OEL 0.00% 1.3¢ otto energy limited

Ann: Investor Update Video Conference Call, page-43

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    Sharing some further thinking on the Bulleit MP sands. And remember that I am an optimistic.
    In my view;
    • The solid result in the DTR-10 sand in Bulleit, confirmed that Bulleit encountered the DTR-10 oil sands in a location that is structurally higher (up dip) than the DTR-10 oil sands penetrated in the discovery well. In my view, this validates that the 3D seismic data over Bulleit is most-probably giving a reasonably accurate picture of the subsurface.
    • I extrapolate from this, that the deeper MP sands should therefore be penetrated in Bulleit at a structurally higher position than what they were penetrated in the discovery well.
    • The discovery well found 18 feet of oil at the top of the MP sand in whole core (rock recovered from down hole) and the fuzzy wireline logs tend to confirm its oil (live or residual) and I am doing further investigation on this.
    • If the oil pay from the whole core in the discovery well is indeed live/moveable oil (and not residual oil), then in my view Bulleit has a high probability of encountering oil in the MP sand if the 3D seismic interpretation holds up.
    • Bulleit MP sand oil column height, net-to-gross, reservoir quality and connectivity are the key risks - all will be revealed soon.

    Just sharing my optimistic thinking...……..so always do your own research please.

    Kind regards OldGeo

 
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