KAR 0.88% $1.13 karoon energy ltd

next week & beyond

  1. Ya
    6,334 Posts.
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    Santa Bob could get stuck in the chimney if his sack is full of goodies.

    In other words, if the gross thickness of the formations in P2 is greater then that of P1, then there's only one way the SP could b heading & that's to the north (with or without Rudolph, who might b chewing the turf at Mt Martha)!!

    Here's how:

    At P-1,
    - Upper Jurassic sands came in @ 4619m with 2.3% gas
    - Mid Jurassic Plover started from 4795m till TD of 5112m,
    - Thats 493m of gross Jurassic with gas column.
    - Add another 100m to that figure, since the well was drilled off-crest, so we had ~593m of gross thickness & no GWC was encountered.

    That figure of 593m was the figure Conoco had used earlier in the year in one of their preso's, whereas KAR's recent annual report used a conservative figure of 430m!!

    At P2:
    - we have 20m of Montara reservoir sands,
    - plus all of the above Jurassic sands
    - And they've drilled beyond the Gas-Water contact, to TD of 5356m here. This is by far the deepest well drilled IMHO in the Browse.

    So there's little doubt, that we have a thicker 'gross gas column' at P2. Lets say somewhere between 20-50% of that is 'net' clean sands, even then, this is big.

    Results frm WL logs will simply confirm the Net:Gross ratio (thickness) & if possible they can do a flowtest or two. Am not fussed abt flowrates for now, but gas saturation, porosity, MDT pressure data & fluid composition will do me for now.

    Have a good break all, as the factual rampometer just went off-scale for the year. In the meantime, look fwd to the game at the 'G' on the 26th!!
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