RE: So...7 Feb 2021 09:23
“Its Cambay 76H well came as close as you possibly can to banking a winner, but you get nothing in the binary world of oil and gas for coming close.
Technical issues rather than geological problems were to blame, according to Miller, who brought in independent consultants to reveal where Oilex went wrong last time and importantly how it can avoid future mistakes.
“The problem probably began when we fractured the well,” Miller explained.
“We appear to have accessed natural fractures that probably opened up a connection to a deeper reservoir that was far higher pressure.
“That probably caused a collapse and a mechanical failure of the casing, which resulted in us suspending the well.
“That was really unfortunate and we took a big hit in the marketplace for that.”
Joe is extremely confident the Schlumberger and Baker Hughes research will not fail. Well 76H just proves the jackpot is there. Medium pressure will still be great but you never know seeing as the evidence of high pressure is there!