03-06-2012, 09:07 AM
Thanks to Maui, Palm and others for the excellent summary of Wayne’s presentation. So there is really not much for me to add but I will give you a few comments.
First, where are we now? http://www.interoil.com/presentation/201..._Final.pdf chart 19. They have set 18 5/8” casing at 113.3 meters (372 feet) and 13 3/8” casing at 802 meters (2,631 feet). That is a little more shallow than I had guessed but the 13 3/8” casing was set well above the sandstone which came in at 1032 meters (3386 feet). After drilling below the 13 3/8” casing they were seeing a little gas in the mud as is shown on chart 19, presented as the red curve. Looks like they were drilling some sandy/shale all the way to the top of the Marl. The black curve is the rate of penetration (ROP) and you will see the rate of penetration increased from about 3 meters/hour to about 10 meters/hour when they hit the marl. According to that the marl drills faster than the shale or opposite from what I said elsewhere. Oh well you can’t be right about everything.
I think they decided they are as close to the top of the reservoir as they want to be while they are in the process of running and cementing the 9 5/8” liner. It is safer for them to stop a little early before getting into the reservoir so they don’t have to worry about a gas kick while they are running and cementing the casing/liner etc. So I think they are planning to set the 9 5/8” liner around 1,231 meters or about 10 meters above the top of the reservoir.
The forward plan is set out clearly on chart 19. Wayne said we might get a drillstem test after drilling 200-300 feet of the reservoir.
You might have noticed that they gave us the rotary table elevation of chart 19. All drill depth measurements are made from the rotary table. The rotary table is 415.21 meters (1,362 feet) above sea level. So now we can make some new and better estimates. Back on Feb. 2nd they gave us http://www.interoil.com/presentation/201..._Final.pdf chart 17 where they showed the “most likely” depth of the gas/water contact was at -1,500 meters sub sea. So now we know that the gas/water contact is to be expected at a drill depth of 1,941 meters (1,500 +415) or 6,368 feet. Without knowing the rotary table elevation I had previously estimated it to be at 6,343 feet so I missed it by 59 feet.
OK, for the important new information. The top of the reservoir came in at 1,241 meters as compared to the previous estimate of 1,320 meters given to us at http://www.interoil.com/presentation/201..._Final.pdf chart 15 back in Nov. 2011. So the top of the reservoir will be at 1,241 meters or 79 meters (259 feet) higher than expected. Based on http://www.interoil.com/presentation/201..._Final.pdf chart 26 I had previously told you the gas column was expected to be 2,015 feet thick (1,500 +512).
Now with the known derrick floor elevation and the known top of the reservoir we can calculate a more accurate gas column thickness. The top of the reservoir is at 1,241 meters drill depth or -826 meters sub sea (1,241 -415). Above I showed you that the gas/water contact was expected to be at -1,500 meters below sea level. From the top of the reservoir at -826 meters sub sea to the -1500 meter sub sea gas/water contact is 674 meters or 2,211 feet of gas column at T-2. The new information gives us an addition of 196 feet of gas column.
There is a discrepancy in the presentation regarding the depth they plan to drill to. Chart 19 says 2,308 meters or 7,573 feet. Chart 16 say 7,182 feet. I think they have decided to only drill to 7,182 feet. You may recall that I questioned why they were drilling so far below the known gas/water contact in a previous post.
First, where are we now? http://www.interoil.com/presentation/201..._Final.pdf chart 19. They have set 18 5/8” casing at 113.3 meters (372 feet) and 13 3/8” casing at 802 meters (2,631 feet). That is a little more shallow than I had guessed but the 13 3/8” casing was set well above the sandstone which came in at 1032 meters (3386 feet). After drilling below the 13 3/8” casing they were seeing a little gas in the mud as is shown on chart 19, presented as the red curve. Looks like they were drilling some sandy/shale all the way to the top of the Marl. The black curve is the rate of penetration (ROP) and you will see the rate of penetration increased from about 3 meters/hour to about 10 meters/hour when they hit the marl. According to that the marl drills faster than the shale or opposite from what I said elsewhere. Oh well you can’t be right about everything.
I think they decided they are as close to the top of the reservoir as they want to be while they are in the process of running and cementing the 9 5/8” liner. It is safer for them to stop a little early before getting into the reservoir so they don’t have to worry about a gas kick while they are running and cementing the casing/liner etc. So I think they are planning to set the 9 5/8” liner around 1,231 meters or about 10 meters above the top of the reservoir.
The forward plan is set out clearly on chart 19. Wayne said we might get a drillstem test after drilling 200-300 feet of the reservoir.
You might have noticed that they gave us the rotary table elevation of chart 19. All drill depth measurements are made from the rotary table. The rotary table is 415.21 meters (1,362 feet) above sea level. So now we can make some new and better estimates. Back on Feb. 2nd they gave us http://www.interoil.com/presentation/201..._Final.pdf chart 17 where they showed the “most likely” depth of the gas/water contact was at -1,500 meters sub sea. So now we know that the gas/water contact is to be expected at a drill depth of 1,941 meters (1,500 +415) or 6,368 feet. Without knowing the rotary table elevation I had previously estimated it to be at 6,343 feet so I missed it by 59 feet.
OK, for the important new information. The top of the reservoir came in at 1,241 meters as compared to the previous estimate of 1,320 meters given to us at http://www.interoil.com/presentation/201..._Final.pdf chart 15 back in Nov. 2011. So the top of the reservoir will be at 1,241 meters or 79 meters (259 feet) higher than expected. Based on http://www.interoil.com/presentation/201..._Final.pdf chart 26 I had previously told you the gas column was expected to be 2,015 feet thick (1,500 +512).
Now with the known derrick floor elevation and the known top of the reservoir we can calculate a more accurate gas column thickness. The top of the reservoir is at 1,241 meters drill depth or -826 meters sub sea (1,241 -415). Above I showed you that the gas/water contact was expected to be at -1,500 meters below sea level. From the top of the reservoir at -826 meters sub sea to the -1500 meter sub sea gas/water contact is 674 meters or 2,211 feet of gas column at T-2. The new information gives us an addition of 196 feet of gas column.
There is a discrepancy in the presentation regarding the depth they plan to drill to. Chart 19 says 2,308 meters or 7,573 feet. Chart 16 say 7,182 feet. I think they have decided to only drill to 7,182 feet. You may recall that I questioned why they were drilling so far below the known gas/water contact in a previous post.
