New Information in Today's Presentation

[Kaliboo]

P

I see a couple of morsels of new information that are of interest.

1. If you look at     http://tinyurl.com/qjpsh24 Slide 10 you will see that they have confirmed the numbers that I had previously calculated for you i.e. The top of the formation in Antelope-4 ST-1 is -1,875 meters sub sea (6,152 feet) and the gas column at that point is 340 meters (1,115 feet) thick. We do not know yet if it is all dolomite. That should be determined by the logs they are presently running.

The more important information presented on this slide is the graph to the right of the core data from Antelope-4, the original hole. We do not have any core data from the present hole, Antelope-4 ST-1. The data shown for Antelope-4 (red dots) comes from the top 33 meters (108 feet)  of the pay zone in the original well. It appears that they had core analysis done on about 60 different pieces of the core so that would be enough to have about 2 samples analyzed from each meter of the core. As you can see they had about 20 of these cores that had porosity above 20% and 5 that had porosity of more than 25%,  two of which had porosity of 29%. This shows that the top 33 meters of the pay zone at Antelope-4 was the best porosity that has been reported from any of the previous wells as far as I know. You will also notice that 17 of these cores had permeability between 100 millidaries and 1,000 millidarcies (1 darcy). Five of the samples had permeability of about 1,000 millidarcies or 1 darcy. I believe permeabilities this high in carbonate rock is very rare and I believe the permeability here compares favorably with Antelope-5.

2. The other piece of new information is found on Slide 12 where they tell us that the logs at Triceratops-3 “Confirms common gas-water contact”.  What this means is that they see the same gas-water contact at Bwata-1 and Triceratops-3 which supports the theory that the whole field has this same gas-water contact    (except of course the lower reservoir in Triceratops-2 where the gas-water contact was different). I think this gas-water contact is at about -1,490 meters sub sea as is shown on http://tinyurl.com/may8c52 page 24. We still do not know the derrick floor elevation at Triceratops-3 so I can not accurately determine the gas column thickness here, but I had previously guesstimated that we have about 440 meters (1,444 feet) of gas column at this location http://tinyurl.com/ppse5xo Post no.4.

Although Pet needs no backup, it's always nice when multiple confirmations from persons who have worked in the industry confirm the same message.  A gas well having reservoir rock in the 1 Darcy range with any thickness (e.g. > 100 vertical feet of pay) is going to be a monster well even if it's a straight hole.  A horizontal well is not needed unless there is strong water drive.  In this well 7" tubing might be flow constrained (i.e. too small).  Thanks Pet

[sageo]

P

I see a couple of morsels of new information that are of interest.

1. If you look at     http://tinyurl.com/qjpsh24 Slide 10 you will see that they have confirmed the numbers that I had previously calculated for you i.e. The top of the formation in Antelope-4 ST-1 is -1,875 meters sub sea (6,152 feet) and the gas column at that point is 340 meters (1,115 feet) thick. We do not know yet if it is all dolomite. That should be determined by the logs they are presently running.

The more important information presented on this slide is the graph to the right of the core data from Antelope-4, the original hole. We do not have any core data from the present hole, Antelope-4 ST-1. The data shown for Antelope-4 (red dots) comes from the top 33 meters (108 feet)  of the pay zone in the original well. It appears that they had core analysis done on about 60 different pieces of the core so that would be enough to have about 2 samples analyzed from each meter of the core. As you can see they had about 20 of these cores that had porosity above 20% and 5 that had porosity of more than 25%,  two of which had porosity of 29%. This shows that the top 33 meters of the pay zone at Antelope-4 was the best porosity that has been reported from any of the previous wells as far as I know. You will also notice that 17 of these cores had permeability between 100 millidaries and 1,000 millidarcies (1 darcy). Five of the samples had permeability of about 1,000 millidarcies or 1 darcy. I believe permeabilities this high in carbonate rock is very rare and I believe the permeability here compares favorably with Antelope-5.

2. The other piece of new information is found on Slide 12 where they tell us that the logs at Triceratops-3 “Confirms common gas-water contact”.  What this means is that they see the same gas-water contact at Bwata-1 and Triceratops-3 which supports the theory that the whole field has this same gas-water contact    (except of course the lower reservoir in Triceratops-2 where the gas-water contact was different). I think this gas-water contact is at about -1,490 meters sub sea as is shown on http://tinyurl.com/may8c52 page 24. We still do not know the derrick floor elevation at Triceratops-3 so I can not accurately determine the gas column thickness here, but I had previously guesstimated that we have about 440 meters (1,444 feet) of gas column at this location http://tinyurl.com/ppse5xo Post no.4.

Although Pet needs no backup, it's always nice when multiple confirmations from persons who have worked in the industry confirm the same message.  A gas well having reservoir rock in the 1 Darcy range with any thickness (e.g. > 100 vertical feet of pay) is going to be a monster well even if it's a straight hole.  A horizontal well is not needed unless there is strong water drive.  In this well 7" tubing might be flow constrained (i.e. too small).  Thanks Pet

Kal - True that Pet needs no backup,but thank you for yours just the same . It is kinda' sad that so many folks just don't understand it when we talk about this kind of a well ( and now with 597 vertical feet  !!! )  what a monster we are looking at......and now there is more talk that the gas/water contact may be several meters lower (not just in Ant 4, but just as Pet mentioned some time ago, the entire field !!) . I don't believe most can grasp the total of what this all means. Yes,I know,probably more delays on the negative side.....but the possitive side is improving . Best to you.

[sageo]

Kal - Maybe a few more folks today did grasp just what a monster we have....best pps advance we have had in a while. Or was it just because of the good market in general . As I often mention,"only the Shadow knows". Have a pleasant evening.