RE:RE:RE:RE:RE:RE:RE:Wouldn’t they already know results from primary target now?Dirk... "Why two stacked Santonians"
Very simple...the Santonian lasted over a couple million years. As a result, multiple sand bodies could have easily been deposited during this time. Obviously they are targetting their primary (and thickest) one, as shown in the seismic, but additional sand bodies are also being targetted within this time interval and overlying Campanian.
Not sure why folks are having a hard time reading the release... it seems pretty straight-forward to me. They set casing above the reservoir zones and thus they still haven't penetrated the Campanian yet but will do so in the coming weeks. Fairly straight-forward. Obviously their first secondary target in the Campanian will be drilled first followed by the primary target in the Santonian next. Obviously if they keep drilling deeper they can then go and test their additional secondary target in the Santonian.
Also, let's keep in mind once they do to drill their reservoir zones here in early November, they WILL NOT be running to the media ASAP and disclosing the results. Their geologists and engineers and petrophysists still need time to interpret the data and understand the meaning. This does not happen in one or two days.
End of day, as based on the attribute and seismic map, the primary Santonian target is the crown jewel. This is what will make or break Kawa-1. If this interval comes in thinner than hoped, or with more water (or higher gas), the well is not a economic success. The secondary targets are wonderful, but the volumes in these intervals will not enable Kawa-1 to be economic on their own (just look at the attribute map... much smaller geographic areas, thinner pay on the seismic map... .the volumes in these intervals would likely be 20-50 million barrels recoverable... that's not economic).
Will be cool to see what they talk about tomorrow! Hopefully it will help elevate the share price again... would be a pretty sad look on Frontera to be doing a press-release next Friday saying the rights offering is completed and that they are paying a pretty big premium on shares relative to the open market price.