RE:RE:from London presentationFrom Spangle in the U.K. who is a heavy hitter and oil industry professional. Plus well worth paying attention to.
Junky - thanks for typing up your notes. Some things to add
Can't test Chinook at the same time as drilling Casc Deep because of safety considerations - both use the same single access road.
3-4 development wells in Casc, multiple dev wells in Chinook. No plans to return for additional wells at Coho in the near term
Due to tubing limitations, flow of 5,000 boe/d from Casc-1 upper zone
NGC contract sees payment is at the wellhead.
A bigger rig, with 12,000ft capability, is being contracted now for use in Q2 foor Royston.
Cascadura Deep is Exploration, and hence higher risk than wells to date.
However, Chinook was the first "model test" well, and they feel it has derisked the Ortoire fairway, which was described as "different sands at different levels draped ovver the structural highs"
Decision to drill deeper added to the time on Chinook, but they were not expecting oil so deep, its the first time it's been experienced. There is a possible connection of the deep Chinook hydrocarbons with Cascadura Deep.
If so it would be good for the local area AND FOR THE WHOLE COUNTRY. No pressure then!