RE:RE:Meanwhile, over at the Bargou Offshore Block...
The way I understand it is that the Jacka well, although in the Abiod, is very different because it encompasses more complex and expensive horizontal drilling and a lot of damage was done during the drilling, plus having the insult of a jammed coil tubing.
The BHN1 well is vertical and cement cased and any damage done is much less than that done in the Jacka drilling, which is not cemented. Any potential problems such as stuck coiled tubing have several remedies and there are more ways to address any difficulties. As they go from the bottom up to test the several identified fractured zones, any problems in the lower zones don’t affect the ones above. Oil flowing from the top of the reservoir will be enhanced by oil from the lower levels over time due to the higher pressures at depth driving the oil from those fracture zones through to the higher zones.
Although some very knowledgeable posters question the potential for 10,000 barrels/day I am still swayed by three considerations: 1) the high level of confidence a credible management portrayed at the recent presentation; 2) the wide bore of the production casing that can manage high flow rates; 3) the Aug. 13th update that has a target of 10,000 barrels/day … again, released by a credible and re*****ble, understated management team that is very conservative in nature. It would appear from that alone, with re*****tions somewhat on the line, that management is very sure footed about the near future revelations that will come from flow testing.
I’m not sure why the information disclosure on the dismantling and removal of the drill rig seems so vague, other than a week’s holiday slowed down the process. Also, there seems to be a lot of ‘conjecture’ on the time it will take to perforate, acidize and test the fractured zones. Estimates range all over the place on this from a few days to two weeks leaving room for much nonsense from certain posters. There also appears to be some confusion about the coiled tubing process and what it is especially from those who have not done any research on it (https://www.youtube.com/results?search_query=coiled+tubing+drilling+animation&oq=coiled+tubing&gs_l=youtube.1.3.0l10.631254.635912.0.657270.13.8.0.5.5.0.155.1041.0j8.8.0...0.0...1ac.1.11.youtube.4Fo2dAiGIekit ). I have tried to call John Nelsen several times but cannot wait for a return call from him and totally understand that he is a very busy guy.
I have noticed that some experienced oil people are guarded and cautious in their opinions, well based in knowledge. Others are very optimistic. The technical folks/chartists prognostications are more or less meaningless at this time, with trading totally controlled by the brokers/banks/funds in the shadows. The fundamentals for me, along with management cues as mentioned above, are the basis of my extremely optimistic position at this time.
Whatever, the next few weeks should be most interesting.