most of this u already know but for others
it is more efficient to keep testing below 16000 feet until such testing is done- although kyoil suggested they move to jurassic he also indicated that to do so and then go back to the deep would take an extra step and more work in the long term
low permeability -low flow -so standard to stimulate w acid etc to see if flow can be induced-saw same in the twilight in the desert book we discussed here
at time of pr they were still swabbing and then have to wait to see if the stimulation was effective to induce natural flow- and may rinse and repeat on a larger basis-1st stimulation was a small job-and yet yielded 90-110 barrels of fluid /day
it is not clear whether they had tested the 2nd combined deep zone of 16080-16210?-if not they could be testing that zone also
"We remain hopeful but do not yet know if there is producible oil in commercial quantities within our deep primary zones, and there are still many questions yet to be answered" in the deep zones
1. We encountered oil at a depth of between 16,415 ft and 16,500 ft during drilling operations, when we circulated bottoms up. The oil was separated and tested internally and externally through our mudlogging company’s chromatograph, indicating “Light Oil” based on the chemical composition of the analyzed stream.
2. Third party petrophysical analysis of our open hole logs continues to suggest that oil is located in this zone as well as other zones of interest.
3. While testing the zone between 16,415 ft and 16,500 ft, we perforated the casing and performed a small acid stimulation job. Upon circulation of the acid out of the wellbore, minor amounts of oil were observed while taking small samples of the fluid being circulated out of the wellbore.
4. Following the circulation of the fluid after the stimulation job, we ran back in the hole and began to swab the well to attempt to see if the well would flow. As of the writing of this update, when swabbing, the data confirms the well artificially flows at a rate of approximately 90-110 barrels of fluid per day in the zone between 16,415 and 16,500 ft. We are still swabbing completion fluid as of this writing and the results of the well are inconclusive at this point as to whether the well will establish natural flow and what the volumetric contribution of oil and water will be.
5. We remain hopeful but do not yet know if there is producible oil in commercial quantities within our deep primary zones, and there are still many questions yet to be answered. However, we can say with reasonable confidence that the formation is tight with low permeability and has few natural fractures. This is not uncommon, and often times requires advanced stimulation techniques to help determine the well’s commercial potential.
Imo. Do your dd before investing. I'm not a financial adviser nor compensated for my posts. They don't believe what they say, so why should you?
