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chillam

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08/08/14

13:54

Post #: 13790644
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Originally posted by mandurah ↑

Chill, I seem to have opened a can of worms. What I said was that I didn't think that we are overly heavy
in oil v condensates and dry gas. It would have been good to have been given some initial flows of
condensate and gas v the light oil that was recovered in the first week or so as a % comparison
though. Would like to see what the lab results have turned up in the interim also ie. % of oil v condensate.

So, I don't believe we are in the predominately oil window, although more light oil has been recovered
than expected, facilitating a longer clean up time. We probably have enough condensate and gas to
facilitate good pressure and flowback under natural reservoir pressure.

IF however, and only IF we have an inordinate amount of oil v condensate and gas and IF it resembled
the characteristics of the Oil window in the EFS then it wouldn't be unreasonable to draw the comparison
of lower INITIAL flow rates and recoveries. Artificial lift procedures such as a jet pump can then help to
increase flow rates and recoveries. It is a long bow to draw and I think that this is highly unlikely for
77H as I have stated. Regardless, oil is the much more valuable commodity, on current prices.100 barrels
of oil is equivalent to 1.2mmscf gas. Artificial lift techniques would be more than economic if the EUR
is good.

Just a bit of "conjecture" to throw out there until we get the real story.

GLTAH

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Ta mandurah - my apologies for going off on a tangent; it seems to be my forte at the moment.
Of course, we don't know anything yet about the composition - da, wake up chilla you old galoot.
Too much API50 at 77H would be a problem we'd love to have!

OEX Price at posting: 18.5¢ Sentiment: Buy Disclosure: Held
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Oilex moving forward, page-20

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