TSXV:ART.H - Post by User
Comment by
Baxter4on Nov 22, 2010 6:34pm
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Post# 17741892
RE: What exactly does 63m of net pay mean?
RE: What exactly does 63m of net pay mean?The 63m of net pay was determined from the logs run. The net pay excludes spaces which do not have the porosity cut-off, In other words, the 63m could be spread over 100m. During drilling they had oil shows, so they believe it to be an oil bearing zone.
I get a value of between 70 cents and $1.50, depending on the method I use, the higher using Samson's billion barrels. Could be higher if there is high permeability which increases recovery and flow.
Now I'm sure Newbie will explain why this constitutes a dry hole.