MKTMVN’s Quote 1: “As someone who saw the data coming up from the drill-string instruments on the Tau well, I have no doubt that there will be a ton of reservoir there if they drill another well and keep it under control.”
Smith: Your interpretation of the data aligns with the Tau prospect’s June 2019 “NSAI” report, which revealed the “quality of sands discovered at the Tau-1 Well was better than expected”.
And the “NSAI” report did mention the M1 sand target “marker” was only partially penetrated by the Tau 1 exploration well leaving it to be redefined as M1 Upper and M1 Lower. “The M1 Upper part was found not to contain oil and gas in quantities that justified commercial production”. I can only imagine Mr. Seitz’s dissatisfaction of not being able to have a few more days to confirm a Tau 1 well discovery.
Excerpt from the Tau prospect June 2019 “NSAI” report:
“After drilling of the Tau 1 well and based on the reprocessing (2018) of the seismic survey, whose results were received during drilling works at the Tau 1 well, the targets were redefined and re-characterized.”
MKTMVN’s Quote 2: “We observed in Mahogany field that the number, quality and thickness of sands increases with depth below the surface in that field. It isn’t a subtle difference - it improves dramatic as you drill deeper and deeper. There is reason to believe that the same would be true of Tau. And the Tau-1 well was suggesting that - there was getting to be more and better sand as the well went down.”
Smith: I absolutely agree, you can see the significant increase (triple digits) in MMBOEs in the deeper target layers (M5 and M6) when compared to the target layers (M1 Lower, M1A, M3, M4).
MKTMVN’s Quote 3: “I believe there actually was enough evidence collected, especially at the very bottom of the hole, to provide strong reasons to drill again.”
Smith: Do you think Delek Group believes it too? I do.
MKTMVN’s Quote 4: “I think what you wanted to know is how many reservoirs might be penetrated by a well. The answer is a number of them, and they will keep coming to whatever depth anyone is able to get. Enough reservoirs is not a problem.”
Smith: This is good to hear from someone with your skills and know-how. Thank you for taking the time to answer my questions in such detail. Great information for the board. Those of us without knowledge of Geology greatly benefit from this type of analysis. Certainly helps us to better understand the issues and maintain focus…. Your perspective is greatly appreciated.
Take care,
Mrs. Smith
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