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LGX Oil + Gas Inc ROAOF

LGX Oil & Gas Inc is a junior oil and gas company. The company is engaged in the acquisition, exploration, development, and production of oil and gas properties. Its projects are in Southern Alberta. The company invests in all types of energy business-related assets, including petroleum and natural gas-related assets, gathering, processing, and transportation assets located in Western Canada. LGX is dedicated to delivering growth in reserves and production for its investors through land acquisition, exploration, and development of oil and natural gas resources.


GREY:ROAOF - Post by User

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Comment by Bigbadoilon Nov 04, 2005 3:19pm
377 Views
Post# 9824325

RE: Bigbadoil

RE: BigbadoilRML did the 2004 (Brenda) RR not Sproule. Nicol is in the same reservoir as Brenda. But in a different pool. I would suggest its production characteristics will be similiar to Brenda (hence ultimate recoverable will be similiar). I agree the wells will eventually have a high water cut as the Brenda sandstone overlies an active aquifer. An active aquifer drive is the best for longer life reserves. A gas-cap drive is less as good. However these wells will be cutting a whole lot of oil too. The reservoir parameters for these Tertiary sands are some of the best you will find anyway (porosity ovr 25%. perm up to 1 darcy). the original tests are from vertical wells with resticted chokes. Productive capability will be better in the horizontal wells. So I dont understand on what basis you can make seperate cases for Nicol and Brenda.. unless you sleep with Art or Mr Christensen and have inside information... The Oil/$ART BB have had an issue with the RML RR for quite a while and have been advocating a change of reserve engineers... We are happy they are now dealing with Sproule!! Also Brenda has not been put on production yet and so how do you infer that Brenda already has a high water cut??? Bigbadun'
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