05-22-2012, 10:25 PM
Either I or Pacific Rubiales Energy Corp. are confused.
Rubiales Energy Corp. Says: “The Triceratops-2 well did not encounter a gas-water contact ("GWC") despite drilling below the depth of a GWC identified in the adjacent Bwata-1 well, indicating that the lower reservoir zone is in a different compartment.”
IOC says: “DST#2 tested the interval between 6,358.3 feet (1,938 meters) and 6,454.5 feet (1,967.34 meters) in this deeper section and this data indicates a separate
pressure system in this interval. An independent formation evaluation indicates potential movable liquid hydrocarbons in this lower reservoir interval, and DST#2 recovered small amount of condensate in the DST string.” at http://www.interoil.com/newsrelease/2012..._Final.pdf and “DST#2 produced water with a small volume of very light oil that exhibited condensate composition” at http://www.interoil.com/presentation/201..._Final.pdf chart 16.
Also Rubiales Energy Corp says: “The Company's evaluation of all the well, petrophysical, test and seismic data to date, indicates a P50 structural closure of approximately 10,000 acres with net pay of 1,700 feet, and high quality reservoir with average porosities of 6% and water saturations of 20%, for the Triceratops structure.”
Whereas IOC has told us on the conference call that we have 62 square miles of closure (about 40,000 acres).
Rubiales Energy Corp. Says: “The Triceratops-2 well did not encounter a gas-water contact ("GWC") despite drilling below the depth of a GWC identified in the adjacent Bwata-1 well, indicating that the lower reservoir zone is in a different compartment.”
IOC says: “DST#2 tested the interval between 6,358.3 feet (1,938 meters) and 6,454.5 feet (1,967.34 meters) in this deeper section and this data indicates a separate
pressure system in this interval. An independent formation evaluation indicates potential movable liquid hydrocarbons in this lower reservoir interval, and DST#2 recovered small amount of condensate in the DST string.” at http://www.interoil.com/newsrelease/2012..._Final.pdf and “DST#2 produced water with a small volume of very light oil that exhibited condensate composition” at http://www.interoil.com/presentation/201..._Final.pdf chart 16.
Also Rubiales Energy Corp says: “The Company's evaluation of all the well, petrophysical, test and seismic data to date, indicates a P50 structural closure of approximately 10,000 acres with net pay of 1,700 feet, and high quality reservoir with average porosities of 6% and water saturations of 20%, for the Triceratops structure.”
Whereas IOC has told us on the conference call that we have 62 square miles of closure (about 40,000 acres).