GREY:HRTPF - Post by User
Post by
VanWilder1on Apr 01, 2013 2:26pm
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Post# 21193279
From Jimmy
From Jimmy Looks like several layers of potential Targets
HRT up circa 17% on about 4X normalk trade volume. Volume in Brazil to day is approx $14 million turnover, so something is happening, what ?
The rig has been on location for approx 14 days and the first week would have involved set up of location, anchor setting etc. The water depth is 1034 meters so that by the time they anounced they had spudded the well they had set the riser to the see bed down 1034 meters, target depth was 3095 from sea level so there is 2061 meters of drilling to get to the primary target horizon., so highly unlikely to have achieved that amount of drilling in a week.
However investors should read the HRT namibia report published on 23rd April 2012, see HRT website presentation section. Please look at page 9. The there are three potential source rocks and the Wingat well will pass through the Turonoian/Cenomanian source rock first before targeting the main Albian carbonate reservoir which is expected to be charged by the Aptian source rocks.
(please note i incorrectly prevuiously refered to the Cenoanian source rocks as the deeper source rock previously)
The well may well encounter a series of basin floor fans and channels(see page 9 of HRT Namibia report) These were not announced as primary prospect targets but may well have been secondary targets. Such reservoirs may well have been encountered at this time and HRT might have had oil/gas shows during the drilling of these sections. A nearby well 2012/13-1 encountered a similar sand reservoir. If the drilling has found oil shows at this stage of drilling it would most likely be evidence of mature Turonian.Cenomanian source rocks.
Thats really good news.
Watch the HRT volume closely
Jimmy