PCL 0.00% 0.3¢ pancontinental oil & gas nl

Indo Pacific on Huinga 1b

  1. 1,747 Posts.
    Hi Guys

    Here's some of an interview done by Indo Pacific on Huinga 1b.This is from another site.

    All told, PCL looks very promising but be patient.

    Regards M.



    So I guess the next question that seems to be the natural one is what are the next steps for the Huinga-1B?

    Dr. Bennett:

    Right now we're setting a 5 inch liner, a 5 inch diameter steel pipe, across the open hole interval that we've just flow tested. It's not an easy process because the hole is deforming on us, and the clay stones are still sort of squeezing in on us. We hope to have that in place very shortly. After that we will perforate, that is fire bullets through the casing at selected intervals, both across the interval of the Kapuni sandstones and across the intervals of fractures higher up. And then we will set in the hole test, a production string as we call it, which is basically tubing with packers on it, gauges, and a sliding sleeve, a zone selecting sliding sleeve assembly that enables us to test either or both of the Kapuni sandstones at the bottom or the fractures above them separately. We can either test the Kapuni sandstones or we can test the fractures, or we can test the both together. This will allow us to do rather more scientific if you like, analytical flow testing program than this open hole test allowed us.

    This takes quite a time, we'll then demobilize the rig, it's a big rig and a pretty costly rig, and so we'll be able to get it off site after we've set that production tubing in place and at our leisure, flow test this well for a long time. It probably will take a long time because apart from anything else there's 28,000 barrels of fluid that we don't want that has gone in there, and that's going to come back at us, it's the first thing to come back at us.

    Republic Communications:

    When you say a long time what does that entail? A week? A month?

    Dr. Bennett:

    Oh no, months. We'll test this for months.

    Republic Communications:

    The question of pay zones has come up a couple of times in the Huinga-1B, is it fair to say that oil that would flow from fractures would be characterized as a different pay zone than the Kapuni?

    Dr. Bennett:

    Yes it is, although as I said earlier on, it may well be that those fractures actually link back to connect up with the Kapuni.

    Republic Communications:

    Very complicated geology. It sounds like it is a very challenging well.

    Dr. Bennett:

    It certainly is. It's a big well, and a difficult well. We've had a very interesting result so far, I think that there's good reason to hope that we can go on from here to establish some success.

    Republic Communications:

    We hope so too. In a hole of this complexity, and having regard to the number of joint venture partners involved, have there been any challenges or "corporate culture clashes" amongst the joint venture partners as it relates to gaining a consensus on what to do next and any other type of consensus building efforts that have to be undertaken in this type of situation?

    Dr. Bennett:

    There have been differences of viewpoint, naturally. There always are in joint ventures. In this particular situation which is very complex, the correct course of action has been something which has... there have been some relatively divergent views as to what to do. However, all in all it's a very smooth working JV with a good relationship between the parties.

    Republic Communications:

    This is the second well drilled in this area, is it true that you initially mapped this structure some time ago?

    Dr. Bennett:

    I personally? yes that's right. 7 years ago which was when this acreage was originally made available by the government for application, I put together a group of companies, and completed for them an analysis and a mapping of this entire margin in order to identify possibilities. Huinga was what I mapped at that time as what I considered to be the best opportunity along the trend, rightly or wrongly. As a consequence of that our group bid for and won the acreage in which the Huinga prospect sits.

    Republic Communications:

    Now, there's a situation where you originally mapped the structure - in terms of making a determination where to drill or where not to drill, is that the sole purview of the operator or, I guess the question is what sort of influence to the joint venture partners have in the decision making process on each well.

    Dr. Bennett:

    Well, all theses matters are matters of consensus. The Joint Venture partners meet and discuss what they consider to be the optimal course of action. It can be a very productive process if you have a good working Joint Venture. Then you get people putting in their different viewpoints, their different experiences and knowledge and actually come up with the best course of action. The proposal that gets accepted at the end is the proposal that gets the voting majority of the Joint Venture partners supporting it. In this particular Joint Venture that's 75%.

    So you need a 75% vote of the Joint Venture parties to actually carry any particular proposal.

    Republic Communications:

    Is that based on percentage of ownership or..?

    Dr. Bennett:

    Percentage Ownership.

    Republic Communications:

    Well, I think for a lot of Indo shareholders, the turn of phrase that "patience in love and money is a virtue" could easily have included oil and gas exploration, I know that Indo-Pacific has had it's share of ups and downs but the company definitely seems to be coming into it's own, what do you see on the horizon as it relates to the upcoming Kahili deviation?

    Dr. Bennett:

    We'll be drilling Kahili in the next few weeks. The rig that we're going to use has just come off contract on another well, its just completed another well a bit to the north, and its in the process of being rigged down on that site and moved to the Kahili site. We won't be spudding the well immediately after set-up because we want to carry out a rig inspection, the rig has had a pretty tough time on its last well. It was another difficult well...

    Republic Communications:

    Sounds like you're talking about race horses ! .

    Dr. Bennett:

    (laughs) Yes, and we've got to give it a good check-over before we're happy to accept it for work on the Kahili-1A well. So I think it will be 3 to 4 weeks before we're ready to go.

    Republic Communications:

    Very good. Well Dave, on behalf of Indo-Pacific shareholders and Republic Communications I really appreciate you taking the time out to talk to us and we look forward to another Q&A on the next successful term for Indo-Pacific Energy.

    Dr. Bennett:

    Thank you, Bye now.

    Republic
 
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