Post by
waitingstill on Jun 28, 2023 9:53am
Post by Optimista on ST
This could easily top the 300 ft mark once the third party laboratory finishes analyzing the results. Only two wells in the Stabroek block achieved more than 300 ft of net pay (311 and 305 feet). When on January 31, 2022, the Kawa-1 discovery was announced, the JV said that they had encountered 177 ft of hydrocarbon-bearing reservoirs. Three months later, on May 9, 2022, they confirmed 228 feet of net pay, a 29% increased from their original estimate. For Wei-1, the Maastrichtian and the Campanian results have already been updated by 8.5% from 71 ft of net pay to 77 ft. Using similar percentages, the original estimate of 281 ft (71 ft + 210 ft), will more likely end up in the range of 305 ft (8.5%) to 362 ft (29%). Official press releases are always very conservative. Wei-1 has the potential to be the biggest oil discovery in Guyana so far. Very exciting! Patience will pay off. Bullish
Comment by
bullishdude on Jun 28, 2023 9:57am
why no comment on reservoir quality? porosity from logs etc. looks very unconvincing the press release without this data.....
Comment by
bullishdude on Jun 28, 2023 10:21am
reservoir quality deteriorates nearer the edge of the fairway. the block is positioned at the edge of the fairway and is one of the risks associated with exploration. If nothing was at risk it wouldnt be called exploration, only development....
Comment by
waitingstill on Jun 28, 2023 10:23am
Agreed. Reservoir quality is good in all surrounding areas. Why not here? Obviously they will comment on it when they finish all tests. Also, net pay inm Camp and Mas zones went up 10 percent with further testing. We could be well over 300 feet of pay when all is said and done. Net pay went up which means further testing of those zone indicated better conditions than initially thought.
Comment by
Coloradobuff on Jun 28, 2023 12:30pm
I may get greedy and add here.