OTCPK:WSRLF - Post by User
Post by
whe4toon Apr 20, 2011 3:21am
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Post# 18458650
On the money...let testing begin!!!
On the money...let testing begin!!!Guys,
This will be minimum of $1.10 if the Jeribe flows!!!!
Below posted up by a fellow Brit; Is the Canadian mkt missing something!
WZR April presentation:
https://www.westernzagros.com/documents/WZRCorporatePresentationApril2011.pdf
Re-analysis of well logs indicates possibility of oil in the Jeribe reservoir
•Nearby fields, including Qumar, have achieved high oil flow rates from the Jeribe reservoir
•Estimated re-entry costs are relatively low Sarqala-1 well bore left suspended pending re-entry
•Oil shows in Upper Fars, Jeribe and deeper zones
•Analysis indicates good potential in Jeribe reservoir, also deeper zones potential
•31°-42°API oil samples Sarqala-1 re-entry to be completed before drilling Kurdamir-2
•Target is 50 metres of potential oil pay in JeribeFormation identified from re-analysis of well logs
•Requires a 100 metre sidetrack
•Major upside of oil (prospective resources) in the Jeribe reservoir is : P90 -P50 -P10MMbbls: 9 –66-248
So the 50m potential oil pay has turned out to be 55m of potential oil pay after wireline logs run. This is only one of the three oil resevoirs at Sarq indentified prebiously. Sarq still has the potential to be a very decent oil find to WZR at 80%. I think the Canadians are missing the point that the well came in at top end in terms of payable and that Sarq is oil rather than the gas that the illinformed on stockhouse are ranting about. Its all oil shows and oil samples collected from Sarq-1. This is payable oil not gas, hopefully it will flow well when tested.