RE:RE:Not sure ….what’s up .. Kelvin,
Victor Vega's response was completely scattered. I honestly have no idea what he was trying to say.
The suite of well-logs captured in wells today are incredibly high-resolution. I'm talking to the point of decimal point accuracy of parameters such as porosity and water saturation.
For the JV to accounce 210 ft of gross pay in June, that implied they saw hydrocarbon responses on the wells log throughout the majority of the Santonian interval. What cut-offs are they now using to suggest that only 20% of that original 210 ft is actually "net" in nature.
Like I said, well logs today are very accurate. There is no way that porosity measurements from the core samples would have came back and implied that the well-log response was so erroneous and thus needed major calibration. Permeability I suppose could be used as a "pay" cut-off, but unless the rocks have less than 1mD, they will still flow provided the proper completion techniques are used (countless examples globally of this happening).
However sliced, that 210ft gross pay announcement in June was incredibly misleading and many investors (such as myself) invested additional capital with the assumption that the company wouldn't be shaving off 80% of this pay zone.