LKO 0.00% 0.2¢ lakes oil nl

The ann still didn't produce what I would liked to have seen but...

  1. 200 Posts.
    The ann still didn't produce what I would liked to have seen but it has still shown that they are in the right spot. Failing to not include any real figures at this stage doesn't mean that it’s a duster. From what the ann does say...included below, is that the entire site is saturated in gas...something that no other well has ever had.

    I believe that this well is on the money and that they will be able to extract gas from 4 different depths. This would enable them to run this well as a commercial well.

    The proof however will be the flow rates at which this well can produce gas. IMO these figures will come in the near future...I would say by the end of the week...if not Monday 30th Nov.

    I am confident that they have something here.

    P.S The last Para is what the delay was all about. "Test Tool Failed"

    -----------------------------------------------------------

    Evaluation of the electric logs by our US consultants indicates that the entire Strzelecki Group section (1350-2500m) appears to be gas saturated and most of the reservoir sands contain tight gas. The gas composition contains C1 to C5 hydrocarbons.

    However, normally tight gas does not flow without the reservoir being fracture stimulated. Tight gas targets will be selected for future fracture stimulation following advice from our US consultants. We are very pleased with these DST results, particularly that gas flows were
    produced from these tight reservoirs, which are aided by the presence of natural fractures providing pathways for mobility of fluids and gases.

    Identification of liquid hydrocarbons from electric logs, DST#1(1383-1478m) analysis and core data indicates that both oil and condensate are also present in the Strzelecki
    Group. The first test of the Latrobe Group over the interval between 1171-1174m produced a small amount of wet gas (C5+) to surface before the test tool failed.

    This zone will be re-tested

    The last para is what the delay was all about. "Test Toll Failed"




 
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