Have a Look at NFK/DXE OVERWHELMING AMOUNT OF DATA POINTS TO A SIGNIFICANT HIT
· BHN-1 is located in the Pelagian Basin which is a proven basin with multiple discoveries.
· Source rock is not a risk in the Pelagian Basin as it possesses multiple proven source rocks.
· The naturally fractured Abiod is well a known reservoir in the region. Over 245m of Upper Abiod section was penetrated in the recent drilling.
· The El Haria shale located above the Abiod is regionally present and provides an excellent seal. It was confirmed by drilling.
· The currently defined structure is well constrained by 2D and 3D seismic.
· The structure is similar in size and shape to the 50 Million barrel Sidi el Kilani oil field located 25km to the East.
· Good E-W closure with apparent N-W closure as well.
· 3D confirmed previous 2D structural interp and Sidi el Kilani analog.
· Production at Sidi el Kilani comes almost exclusively from micro-fractures.
· Several interpreted fracture intervals were observed over a 245 metre thick Abiod section at BHN-1.
· Elevated C1-C4 gas chromatograph readings along with evidence of micro- fractures observed in drill cuttings coincide with the potential fracture intervals.
· Pulse Neutron Log data suggests the Abiod is hydrocarbon saturated throughout the section with no water contact and has intersected a number of fracture intervals. RST log interpretation indicative of light hydrocarbons.
· Management is targeting up to 10,000 barrels of oil per day. Wells at Sidi el Kilani produced as high as 11,200 bopd.
· There is ample capacity for discoveries at the Sidi el Kilani pipeline 25km away. A tie in to the pipeline will cost less than 20 Million Dollars.
· Completion is to commence shortly.
A nice article too:
https://resourcejuniors.blogspot.com/2013/10/bouhajla-prospect-to-be-tested.html