Thumbnail review.I did a quick overview of salient details to date, condensed from many previous posts of several contributors with a few thoughts of my own, right or wrong.
Assumptions: hole stabilization issues in the shale seal required hole casing … logs in cased holes not very reliable … nearby ‘twin’ Sidi el Kilani (SLK), could not detect oil in the mud flows during drilling either … need flowable contents from Abiod formation to confirm oil via perforating, acidizing and swab testing …hole is being cased (cemented ) … logging through the liner will help them target where the best areas are to stimulate … and possibly refer to precedent Abiod type formation wells … have huge 800 ft. to analyze … could this bode well if oil present? … BHN-1 is lower but there are other Abiod successes that are even lower (Cooper is drilling a horizontal sidetrack in the primary target Abiod Formation limestone below 3000 ft) … after testing, SLK produced over 3000 B/D.
Abiod at BHN -1 is turning out to be exactly what they were looking for as per historic models and Seismic readings, which were out by 200 metres to depth, BUT the Abiod is thicker than expected … and has all the necessary characteristics such as shale seal, fractured chalk, no water, ‘flat spot’ promising indicator.
NFK/DXE are exactly where they wanted to be when drilling targets were announced. Expectations of success have always been based on the apparent homogeneous characteristics of the Abiod formation extensive in Tunisia and underexplored. Odds are in favor of some degree of success at BHN-1 ranging from low to high. Shell must be quite curious at this stage.
Good wishes to all shareholders and management of NFK/DXE.