Updated calculation of East OlimtoiGuys, these are very good news! I'm especially pleased to see the gross thickness at almost 60m, and an assumed
net pay of 32m, this is about 3x higher than my guesstimate. My assumption on porosity was pretty close, slightly
lower, but no problem with 17% porosity in terms of corresponding permeability and productivity. We should be able
to see rates in same order as for AKD-01, testing equipment and formation damage permitting.
These are my new numbers:
Base Low High
Area: 10 8 12
Gross thickness: 60m
N/G: 50% 40% 60%
So: 70% 65% 75%
Poro: 17% 15% 20%
Bo: 1.85 2 1.70
STOOIP = Area x Gross thickness x N/G x So x Poro / Bo
STOOIP (Mbbl) 120 60 240
Reserves 30 15 60
I've added to my holdings today, I believe this will have a significant impact on the share price once this is tested and flowing. The market often does not understand this type of info, but they sure will understand 5000 bbl/d in a couple of weeks...nice to see that they also believe there is potential in the segments next door.
Best,
Darcy