PCL 11.1% 0.8¢ pancontinental energy nl

Huinga "bloody optimistic"

  1. 2,070 Posts.
    Thanks to Rosskend at Ozestock this latest quotation from Energy Review:

    "Industry commentators are optimistic the onshore Huinga-1B well will prove to be Taranaki's second hydrocarbon discovery of the decade, following more oil being recovered to surface during weekend testing.

    Indo Pacific chief executive Dave Bennett said today that more oil had been recovered during a relatively short barefoot drill stem test of the Kapuni sequence during the weekend. "It did not flow unaided to surface, but it did flow fairly steadily. No formation water was encountered, which is an excellent result,"
    Bennett said from Wellington. About 20 barrels were recovered and the Huinga partners were awaiting the results of the flow test, particularly pressure data, to determine what to do next. About 130m or so of the Kapuni sequence formation has been encountered above the 4390m mark. The drill stem-test (DST) tools were due to be run into the hole to test the 4370- 4428m open-hole interval. The weekend DST could be the only test before the well is plugged and suspended and the Parker Drilling Rig 188 rig released to Shell Todd Oil Services for the drilling of a further Pohokura South well. However, Bennett said there was a possibility the partners would be so encouraged by the test results that they would decide to deepen the hole and set 5-inch casing so more of the Kapuni sequence could be tested, including performing perforations of one or more intervals.

    He agreed with industry comment that Huinga-1B was proving to be a very interesting well and, hopefully, the first commercial onshore Taranaki oil discovery from within the Kapuni sands. The more northern McKee field flowed from the McKee sands at the top of the Kapuni sequence, while the nearby Waihapa field
    flowed from fractured Tikorangi limestones and the more southern Rimu-Kauri finds produced from several other formations. Commentators are saying Huinga-1B could prove to be about the size of Waihapa or Kaimiro, containing tens of millions of recoverable liquids, but smaller than the 70 million barrel-plus McKee. "People are pretty bloody optimistic Huinga will prove commercial," said one.

    Suspending the well will allow a smaller and cheaper rig to be brought on to the Huinga site at a later unspecified date to allow testing of the numerous extensive fractures encountered within the Murihiku Group metasediments basement rock."
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