Post by
kooteni on Jul 05, 2011 11:27am
Investor Village
Oiljack's Oil Thoughts
This site, is run by Oiljack. He does excellent DD and has a number of very good contacts
in the oilpatch. This posting talks of thicker pay zones, higher porosity and high fluid levels
in the original SCS BHP well. Here is his latest comments on Swan Hills. I can't give you
the link as it appears Stockhouse does not allow.
Swan Hills - from the field...
Being on holidays I now have the time to talk to all of the people that I would like to on a more regular basis.
Here we go....
* The 4-23 well, 100% working interest by SCS, was drilled as a vertical stratigraphic test well rather than as the suggested horizontal well via the license application. A full suite of logs was obtained and they are being analyzed. My guess is that they will be shared with CH/CPG as they have the nearby Archie prospect. These guys know each other well and they appear to be working in tandem.
* the second JV BHL well has now begun flow back this week and should have test results in good order.
* The JV team has three rigs running at present on the BHL play and they are concentrating their drilling on the higher porosity part of the field. The area closer to the Judy Creek Field has net pay of as much as seven to eight metres so let's dispel this myth that the pay is thin here. It sweeps off of a major reef build-up and does not disappear suddenly into some thin slice of BHL pay.
* the company actually has four rigs running at present....the fourth rig is finishing up an Ellerslie vertical oil producer. You should expect a large production kick-out by the end of Q3 and into Q4.
* there may be plans to further speed up the BHL drilling program if results warrant it.....i.e. they might keep three rigs running for longer than initially planned as opposed to dropping back down to two. More well licenses are being applied for and more locations surveyed.
* ARN - have a full suite of production staff and they could run a four or five rig outfit if they really wanted to.....they will not though. Field man says they are ready to do some real damage....should be able to drive down costs and really lift production and cash flow results. Really impressed with who they stole away from PGF.
* infrastructure continues to build in the Ethel oil pool area and their project is top drawer there. Cannot understand why someone has not bagged them yet but says in his estimation it should happen before the end of the year. PWT, PGF, and CPG are all keeping a close eye on the weekly operations.....literally.
* MEL....leeward platform play has shown some incredible results. MEL cut an eight or nine metre section of pay when they drilled their well and it has far surpassed production expectations to this point. Really do well.
* All of the bigger producers at Swan Hills, 2 CH wells, 1 SCS well, and 1 MEL well are being held back with smaller pump jacks and higher fluid levels so as to garner as much data as possible (production) all the while maximizing profitability for each production location.
SCS, ARN and MEL.....all strong buys.
Watch the newswires!
Comment by
binzer55 on Jul 05, 2011 1:58pm
That sure beats your "30 years experience in the patch' koot! hahahaThat 4-23 well is going to disappoint a few.
Comment by
lowe0 on Jul 05, 2011 2:25pm
Why don't you leave it alone tried of your bs posts YOU ARE IGNORED