HDR hardman resources limited

the story so far......

  1. 174 Posts.
    Here are the facts on Chinguetti:

    Chinguetti 1 - 120m gross oil column
    Chinguetti 4-2 - 94m gross oil column
    Chinguetti 4-4 - 114m gross oil column

    Reservoir sands were excellent quality with net to gross ratio of 25 to 40%.

    The latest well:
    Chinguetti 4-5 - 100m gross oil column

    Reservoir sands were good to excellent quality with net to gross ratio of >=38%.

    In anyone's terms these results are bloody marvellous and the flow rate from the production well, now that the sand inflow is being taken into account, will be no problem.

    Leafcutter has supplied yet more valuable information about the North Perth Basin block, after all it did find hydrocarbons and gas but the reservoir sands were too tight....not exactly a failure.
    The well was drilled with Hardman's Logue rig so was cheap as chips and worth the money spent to increase the knowledge base.

    If some of you guys expect oil companies to come up trumps on every well drilled, then you are going to be sadly disappointed most of the time.

    The good thing about the drilling in Mauritania is that the joint venture are utilising very good quality 3D seismic data to pinpoint the drilling targets which increases substantially, the prospects of success.

    The results so far from the early appraisal well are exactly what were expected, proving up a spectacular discovery, and giving confidence that financial backing is simply a tick in the box.

    Also don't forget the similar exciting prospects in Uganda and Gabon which will be drilled very shortly.

    I for one will be taking advantage of any pull back to top up my already considerable investment and look forward to the future.
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