Interesting PerspectiveHello All, I've been following a UK BB regarding VST and there is definitely some interesting reading. Here is a recent post that I thought was worth sharing to my fellow longs. Many of their posters follow the activity on Stockhouse and here's one where a poster had some comments on a SH post from GS. The poster is a WZR investor and doesn't appear to hold any VST and is just giving his 2 cents.... or perhaps since it's the UK it's his 2 pence :)
The italicized words are from a GS post earlier in May and this dude's (or bloke's) comments.
Cheers,
DK
Just a point while scanning this thread, the above section is nonsense I'm afraid:
"Basically the deeper a reservoir is the greater the likely temperatureand pressure that reservoir fluids have been exposed to through time andthe more likely that any original crude oil has been cracked intolighter ends - terminating in a gas condensate reservoir rather than acrude oil bearing one."
Direct gasification or formation of syngas from organic matter requiresextreme temperatures and HPHT conditions. Gas produced from microbialdegradation requires shallow depths and residual heavy oil or oil shale,neither of these apply to wells of this depth or API of oil.
Whether a source rock produces gas, condensate (which isn't light oil bythe way its natural gas liquids, slightly longer chain gas moleculesliquid at room temp) depends on the type of organic kerogen in thesource rock. You cannot turn oil into condensate nor natural gas.Natural gas under increasing pressure and temperature becomes singlephase liquid. Formation of condensate or natural gas liquids willhappen in higher temp or pressure. The organic content will be formarine or terrestrial origin, marine - likely to produce oil,marine/terrestrial oil/condensate/gas, terrestrial - gas and possiblecondensate/NGLs (Kerogen Type I, II, III).
"Based on the experience of WZR to the south I had always been of theopinion that the Jurassic and deeper reservoirs here would be found tobe gas condensate bearing but that the Cretaceous reservoirs could goeither way."
Based on anything found below the Gulneri seal in any surrounding fieldsnear WZR's block it has all been Oil with high GOR, or Oil onlysuggesting Type I or Type II Kerogen source not gas/condensate Type III.
Just thought I'd correct some of the misconceptions on the postsregarding oil and gas generation. Some of these Canadians seem to beobsessed by gas and ignore the oil shows even when they've been sampledfrom most of these reservoirs. VST's block is not that far from that ofWZR, nearly all of the surrounding fields have oil or oil/gas in thecretaceous very few fields here are gas/condensate at the cretaceous.Basically in the neighbouring block WZR has returned up to 4% volume oilfrom 14-17ppg mud while drilling about 1600m of reservoir (upperaaliji, Shiranish and Kometan oil samples returned from all three). Yetsome focus only on the 300m of tertiary gas/condensate/oil above that.Perhaps leading to the Canadians obsession with gas perhaps, who knows,perhaps they've never heard of a gas cap. :)
Holder of WZR, not yet a holder of VST. From the position of theirblock, and the vicinity of the source rock and oil migration onto ablock I'm more familiar with. :) I'd say over-pressured oil, or oil withhigh gor likely in Vast's block over the cretaceous, Aaliji/Shiranish,will be interesting to see if they log Kometan too. Posting as aninterested observer.