Post by
Proselenes on Dec 03, 2021 2:10am
News on Monday then ?
Looks like next week for news then.
I seem to be the only one who speculated Royston 3rd zone might be oil, and it was. I also seem to be the only one speculating the 2nd zone might be a massive oil discovery and not a massive wet gas discovery........... but that might explain why testing is taking longer.
They tested they 3rd zone with the gas set up testing equipment as they expect to test the 2nd zone for wet gas.
However......if the 2nd zone was in fact oil, then given the size and significance of it, they may well have sent out for the oil testing set up to test it, as its the primary target of the well and it would be a bit silly to test it with the gas testing set up.
That would have considerable time delay, depending on availability, getting it to site, set up and then testing.......
Just me speculating that the 2nd zone might be oil - and not gas - and if it were, this would be quite simply massive in terms of added value to TXP. A TCF of wet gas is one thing.......but multiple hundreds of millions of recoverable oil onshore would be something else.......
But as always, the delay might be due to lack of flow, test equipment failure or many other things........just have to wait and see.
It would in fact make sense to pull the pressure recorders today (Friday) and crunch the data over the weekend for a news release Monday morning - same as the Royston 3rd zone results were released on a Monday morning - stops inside info leaks.
Comment by
jake1444 on Dec 03, 2021 12:16pm
My concern would be flaring.