RE:RE:Ingenuity...A world of opportunityFrom Crown Ventures which have wells in the Canadon Luck Springhill formation of the Austral basin, TDs are in the 1700 to 2500 m range, well productivity ( IP ) is in the 2 MMcfd to 5 MMcfd ( roughly 350 boepd to about 850 boepd ) with well reserves in the 2.5 billion to 5 billion range.
RJames estimated RPT had 4 MMboe or about 25 billion cf of gas in RPTs onshore Springhill concession.
RPT have 60 sq km onshore, with seismics, in the Magallenes Tertiary formation.
These are shallow oil/gas formations ( 600 to 800 m ) and capable of delivering huge upsides.
In the past 20 years, pools with more than 250 mm barrles and 600 bcf have been found in this extensive formation.
R James estimated that RPT could have 100 MMBoe in this large onshore concession.
RPT and its predecessor have drilled 16 wells in this tertiary formation, with 4 being abandoned, 2 currently producing about 240 boepd, and 11 wells awaiting testing, completion and tie-in.
RPT have lots of development options.
They need more working capital to advance their highly prospective concessions and bringing more wells online.
They appear committed to a dual objective.......developing its superb Argentinian assets while seeking production diversifation elsewhere.
My hope is that both can be accomplished by a single merger to a cash rich junior producer.
I look forward to the new presentation