RE: RE: RE: reMore info for people who are interested (others who don't like information feel free to put me on ignore rather than flaming - thanks):
The reserve report from 2008 has some information for trying to translate the Broadside numbers into expected production:
https://www.tagoil.com/pdfs/TAG_SprouleReport_12-31-08.pdf
From the report:
Cheal-A3X was drilled in April 2004 to test the hydrocarbon potential of the Intra Urenui and
Mt. Messenger sandstones in an updip position from the Cheal-1 and Cheal-2 wells. This
well was directionally drilled from the Cheal A pad toward the NNE, intersecting the Intra
Urenui Sandstones between 4,603 and 4,737 feet MD and the Mt. Messenger Sandstone
between 5,800 and 5,863 feet MD. Good oil and gas shows were noted over the two target
intervals. The Mt. Messenger Sandstone produced a total of 6,900 bbl of oil on test in June
and July of 2004 and was then shut-in until May 2005. The Mt. Messenger was further tested
from May to August 2005, at an average oil rate of 350 bopd with gas-oil ratios
increasing from 475 to 825 scf/bbl. Water-cuts were less than one percent.
So that well had 63 feet = 19.2 meters of pay in the Mt Messenger Sandstone and it averaged 350 barrels a day over 4 months from that formation. So 14 meters pf net pay = maybe 250 barrels a day?
Does anyone know where to find the production history for this well? Does New Zealand keep an online database? If so we could maybe get a handle on the decline rates.
Also, does anyone know the royalty situation on the new discovery wells - I know TAG is paying a 25% royalty on the production from certain Cheal wells to Austral's creditors, but I don't have a firm handle on which wells this covers