RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: REThanks skeksis.
My understanding is that oil shown in the video comes from the Urenui formation. So, that would mean that they have 40 degree API oil in the Urenui and probably the same or better in Mt. Messenger. One thing for sure, it is high quality oil since they receive premium prices from West Texas Intermediate.
"The high-quality oil that TAG produces from the
Taranaki Basin is sold primarily to Australian and Asian refineries, receiving premium prices to West Texas Intermediate because of its low sulfur content."
https://www.tagoil.com/production.asp#
Regarding the waxy oil, Mt. Messenger oil seems to contain more wax than average but less than what is found in the Urenui formation. I'm no expert in oil, but according to that one source, it seems that there is always a certain amount of wax in the oil when you get it out of the ground:
"Crude oil contains varying amounts of wax, or
paraffin, and in colder climates wax buildup may occur within a pipeline."
https://en.wikipedia.org/wiki/Pipeline_transport
For Mt. Messenger, in slide 26 of the August corporate presentation it is stated that they employed down hole heaters to improve recovery. thus suggesting that there is wax in a sufficient amount to impact production if not heated.
As for Urenui, this formation as always been bypassed because the amount of wax there resulted in low and uneconomical production. The oil is very liquid in the ground, but it becomes solid as they show in the video when it gets taken out if it is allowed to cool enough. But they have been working on this problem since March of this year in the context of their optimization program.
The COO gives more info on the wax issue and the overall optimization program in the following interview:
https://tagoil.com/pdf/PetroleumNews_4-7-2010.pdf
As of note, they were expecting to increase production from 100 bopd to 200 bopd with the A-7 frac. We now know that the well was producing about 280 bopd following the frac stimulation. That shows that they were conservative again and that they over-delivered that time also. I hope they keep their momentum on that front!