Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Mart Resources Inc MAUXF



OTCPK:MAUXF - Post by User

Bullboard Posts
Comment by Alhajaon Mar 17, 2012 6:09am
603 Views
Post# 19684470

RE: Reserves (my back *ss guessing)

RE: Reserves (my back *ss guessing)

Here is an alternative count for you:

1000m length

15m thickness

250m width to use your conservative approach

Now 1000m only covers the distance between the two points UMU7 and UMU9

volume = 3.750.000m3

porosity = 15% (just took a number + this only indicates what might be present - not what is recoverable)

available volume = 562500m3

multiply by 1000 to find the number of liters, divide by 160 (approx 160 liter in one barrel)

you find 3.5M barrels in this sand

mind you: present, not recoverable.

additionally:

When oil is produced, the high reservoir temperature and pressure decreases to surface conditions and gas bubbles out of the oil. As the gas bubbles out of the oil, the volume of the oil decreases (Wikipedia)

Let's use a factor of 1.3 for this

We get 2.7M barrels

Recoverable 10-80%, adopting your strategy for conservatism lets take 45%

Reserves would amount to 1.7M barrels

Now reality tells me that you should add some volume away from the U7-U9 line, let's take 25% which seems conservative : 2,125M barrels recoverable

In reality these things will be calculated based on more dynamic properties like pressures, headloss etc which give an accurate indication of recoverable barrels.

Disappointed? roughly multiply by 10 for total sand thickness and you arrive at 22M barrels recoverable in that part of the field.

What does this calculation mean?

Not much.

Stay rational, I am most certainly wrong, but you too.

Regards.

 

 

 

Bullboard Posts