premier have trading and operations update out this week
at the very least will have game plan for crd 2nd appraisal hole
M
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premier have trading and operations update out this week
at the very least will have game plan for crd 2nd appraisal hole
M
Bit of volume through in AUS. Only one way to go now....
yes, biggest 1 day volume for a while - came early in the day and then no more trades
M
09/07/2013 11:35
MINE: PPP: Vietnam Block 121 Exploration Drilling Update
Vietnam Block 121 Exploration Drilling Update
Origin Energy (Song Hong) Pte Limited ("Origin"), the Operator of the Block
121 Production Sharing Contract, offshore Vietnam, have reported that at 0600
hours on 9th July the 121-CV-1X exploration well currently being drilled by
the "Ocean General" drilling rig, was at a measured depth of 2967m BRT (below
rotary table) and was planning to set the 9 5/8" casing.
The 121-CV-1X well has been designed to evaluate the hydrocarbon potential of
the Whale ("CV") prospect, an unconformity and tilted fault trap, targeting
Oligocene clastic reservoirs and is now close to the top of the main
objective section.
The well has a planned total measured depth (TD) of approximately 3771m BRT,
and the Operator will complete evaluation of the objective sequence by
wireline logging after reaching TD. 121-CV-1X well will be plugged and
abandoned after the evaluation has been completed.
The well is being drilled in a water depth of 270m and was spudded on 15th
June.
Participating interests in Block 121 are:
PPPV121 15%
Origin 45% (operator)
Premier Oil 40%
Looks like we will have an answer either way by this time next week they made some good progress in the week
since 28th the average drill rate is 127m per day which to me sounds good.
if it was a much quicker rate of say over 200m per day, then that implies they are drilling through stuff that is soft
since about to set the casing then say allow 48 hours for that, so come Thursday morning they are drilling ahead - smaller drill bit so slower progress - say 100m per day would be good - not to hard and not to soft
end of next week is my stab rather than Tuesday , but heck I will take oil anyday
M
I am struggling with the wording ( complete evaluation-wire line logging- well will be plugged and abandoned) why hold out hope for a strike if they intend to abandon the damn well?????
Snr. Swissboy
I think to agree sizes of present field
it is a "cheap" exploration drill and once finished and they know what's there then it has no further purpose.
plugged and abandoned [after they have finished with the hole] is normal - even if find a squillion barrels of black gold
a production hole is drilled differently - cased all the way down and is a lot more "expensive" to drill
M
This was always going to be just an exploration hole nothing more.they are trying to find what HC are down there, and they are right on top of their target area. An exciting week coming up.
According to premier, they are targeting 100 mmb +. They will also wire log the well to establish what's down there to find out if they have a commercial volume and if the are on target. All these have been signalled all the time.
Cap