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Where is the Gas/Water Contact and the Elusive Western Fault?
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02-04-2016, 11:51 PM
Relker- One way to deal with a spread of estimates would be ask questions what do you need to see to raise your estimates ??Is this new flow test part of that???The 2015 drilling results surely must remove some uncertainty over the asset size . With 7 T's GCA thought they had enough gas for a 2 train plant . See analyst reports . That GCA estimate was before the 2015 drilling and testing . What will the Interoil year end report show ??What will the Oil Search Ordered GCA and NSAI reports show ???results due early third quarter 2016 per Botten .
02-06-2016, 02:23 AM
Pet - If I may go back to Ant 6 for a moment, based on the latest report from OSH,how far off am I on my guess for the thickness of the reservoir column ? From the numbers in that report,I believe we can expect about 450 feet (plus or minus a few meters ...limestone and/or dolomite) of reservoir between the top and the g/w contact.I know they mentioned lower quality of rock in this lagoonal strata, but at this stage, who knows for certain? If my thinking is flawed,any help would be appreciated.[ I can always blame "aging " brain cells ].
02-06-2016, 03:23 AM
'sageo' pid='66488' datel Wrote: Sageo- Good news! Nothing wrong with your aging brain cells. I get the same thing you do. Let's just hope for some good rock in that 450 foot interval above the gas/water contact.
02-08-2016, 05:41 AM
'petrengr1' pid='66490' datel Wrote: Pet - Thanks for your approval concerning the old brain cells ! Next....,as the old sayin' goes, "if the good Lord is willin' and the creek don't rise" we will find lots of big holes in that 450 ft. of rock (which equalls good porosity) . ....which would produce some fine news for OSH or someone to relate to us. [As Palm often reminds us,"we wait".] With a little luck we could hear next week that we have reached TD . Best to you !
03-30-2016, 08:55 AM
Good news we should have more details in the AM.
(02-03-2016, 12:38 PM)petrengr1 Wrote: I wrote the above message back on 2-2-16 where I was speculating on which wells might have crossed the fault based on their location and how deep they were drilled. If I may I would like to change what I said above about the possibility of them knowing where the fault is based on having three wells that might have crossed the fault. As a matter of fact none of the Antelope wells have crossed the fault. How do I know this? Let’s have a closer look at http://tinyurl.com/q2lzmbq page 13. If you look at the cartoon on the lower right side of this slide you will see that they show where they drilled Antelope-5. The lower dotted line indicates where they think the fault is. The well was drilled 93 meters below the gas/water contact but it never reached the fault. Since Antelope-5 is the well drilled fartherest to the west none of the other wells have crossed the fault either. So they are back to depending upon the seismic and gravity interpretation (shown of the left side of page 13) to determine where they think the fault “might” be. What might we learn from this information? First I doubt that the chart on the right side of page 13 is to scale but, just for fun, let’s assume that it is. Based on this I have estimated that they think the fault is 539 meters below the present TD of Antelope-5. How can we use this information to determine where the western fault might be? First have a look at wikipedia http://tinyurl.com/zpwnlzq . Quote: “If the angle of the fault plane is low (generally less than 20 degrees from the horizontal) and the displacement of the overlying block is large (often in the kilometer range) the fault is called an overthrust.” What we have here is an overthrust fault so we might expect the angle to be less than 20 degrees from the horizontal. Now let’s fast forward to the presentation that they gave us on May 13, 2016 http://tinyurl.com/j6fu99b page 7. You will note that the map has changed since the one shown on June 9, 2015 http://tinyurl.com/q2lzmbq page 13. You see two faults to the west. You must understand that there is only one fault but this map is showing two possible interpretations of where this one fault may be located. Since June 9, 2015 they have moved both faults toward each other making the distance between the two interpretations much smaller. Using my trusty ruler I have made some “back of the envelope” estimates of how far west of Antelope-5 they have placed the location of Antelope-7 and how far west of Antelope-5 they have placed the location of the two new interpretations of the fault’s location. Now they obviously believe the correct location of the fault is the one that is the most westerly. If the eastern fault interpretation is correct then Antelope-7 will be a dry hole since Antelope-7 is to be drilled west of where that interpretation shows the fault to cross the top of the limestone pay zone. So, of course, they do not believe that interpretation to be correct if they are about to spend up to another $100 million drilling Antelope-7. Based on my estimate of how far the fault is below Antelope-5, the distance from Antelope-5 to the eastern fault, and the top of the formation sub sea depth where the fault crosses the top of the formation as shown on their map I have estimated that the fault angle would have to be about 36 degrees for this interpretation to be correct. That angle looks to be too steep for this interpretation to be correct. So let’s do the same calculation using the distance for Antelope-5 to the western fault interpretation and the sub sea depth where their map shows this fault to cross the top of the formation. Using this information I have estimated the fault angle to be about 19 degrees which looks more reasonable for a thrust fault. So this westerly fault interpretation appears to be more likely to be correct. Now let’s do this calculation once more using the distance from Antelope-5 to the Antelope-7 location and the sub sea depth their map shows at that location. Since we have found that this pay zone is up to 2200 feet thick (670 meters) at some of the Antelope wells we would like to know if Antelope-7 will cut the fault and how much of the pay zone we will drill through before we get to the fault. We know that the best of the pay zone is in the top half of the zone so let’s just see what the angle would be if we have half of the pay zone (670/2) in the well bore when we get to the fault. Using this information I have estimate the fault angle to be about 20 degrees or about the same as I got for the western fault. If the western fault location interpretation is correct we should see the top half of the normal pay zone at the Antelope-7 location. Of course that is where we have been finding the high porosity limestone and dolomite. Their map shows that the Antelope-7 location is in what they are calling the “slope” which I think is their way of saying the formation at this location is likely to be of lower quality than the other wells that have been drilled. If the drilling of the well proves to be similar to what I have described above I think we should see some high porosity limestone and dolomite based on the results of all of the Antelope wells that have been drilled so far. If the fault angle is less than 19 -20 degrees the fault will be further to the west and we will see a thicker pay zone in Antelope-7 before crossing the fault.
06-23-2016, 05:37 AM
'petrengr1' pid='72626' datel Wrote: If this scenario is correct this could be another reason to vote "no" on the deal and wait for a larger payment from Total based on the SPA upon completion of the certification process.
06-23-2016, 05:37 AM
Yea but this is like being a cat trying to catch that red dot.
06-23-2016, 08:36 AM
Vote no , quite simple .
06-23-2016, 01:12 PM
Pet, if I get you right you seem to say that:
So the expectation is that Antelope7 is likely to add considerably to the resource certification, which, under the SPA we have with Total, would lead to a large resourc payment, with which IOC could survive on its own feet. One of the things I dislike most about the deal is that we don't know the certification and a high certification would make selling the company much less necessary. |
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