RE:RE:RE:RE:Wei spud date ?Waitingstill, Here's my theory with the caveat that I know infinitely close to zero about geology and geophysics: Oyl sp tells me that Wei is a go. It also tells me that oyl doesn't necessarily have to hit it big in order to secure a JV that might include picking up some of the costs of drilling Kawa and Wei. Here's why I think that way: the reservoirs run updip towards Exxon/Hess/Nexen aka CNOOC. Sand settles out (decants) first in a delta region. Clays settle out last. The Campanian and Santonian in the area of Wei would be sandier, therefore have more porosity and permeability. Note that sedimentologists put a geological age on a rock based on when sediments settled and not on the type of rock. So you can have a Campanian that is mostly low porosity and low permeability rock down dip but updip the same strata could be mostly well-rounded, clean, high porosity and permeability sand.
My theory is that Kawa pointed oyl to Wei where they expect to find decent reservoirs that are part of a system that flows into and feeds Exxon's stuff. My theory leads me to postulate that Dr. Jenny was on loan to CGX to help them nail down what these structures look like. If confirmed that oyl's stuff is part of a massive petroleum system then Kawa and Wei could be used as injection wells to produce the system at an Exxon FPSO.
That's the only way that I can explain both oyl's and fec's impressive sp. A JV is assured if Wei comes up with info that when merged with what Exxon already knows will give oyl and fec a deal that includes working interest and quite possibly picking up part of Kawa and Wei's well costs if the wells will be used as future injection/production wells.
Implied in my back of napkin theory is the notion that nobody can "game out" and reliably estimate a future sp for oyl or fec because nobody has the geophysical info except for the oil companies involved. Heck nobody on these boards can tell us the eta for the Discoverer on the Wei location, much less, the operational info on what transpired at Kawa. So why anybody takes some posters seriously is beyond me. But I do take the people who know about finance seriously and the processes involved in putting together a JV. I'd love to hear more about how they might game out say a 100 million barrel discovery at Wei. One poster said that the process takes about a year or so. Anyway, I'm very optimistic. But again, I know next to nothing about earth science or finance. I'd like to read more opinions about them.