A bit of (very good) news on the AZA Basker/Manta field has been released in Beach's weekly report today (not sure why AZA didn't replicate it).
The BPt announcement notes:
"Basker-3:
Since last weekly report this well was re-entered to bypass a faulty valve at the bottom of the tubing string, flow tested and successfully suspended. The well flowed at a rate of 7105 barrels of oil per day through a 56/64" choke with an average well head pressure of 1807 psig. The gas-oil ratio was 1807 scf/Bbl ... "
That flow rate of over 7000 bopd through a pipe less than 1 inch in diameter sounds very impressive to me. Strongly suggests the 25,000+ bopd flagged in earlier partner announcements is a minimum certainty.
Another very interesting bit from the announcement was the associated gas being produced - i.e. 1807 cubic feet of gas being produced for every barrel of oil. At 7000 bopd that represents just over 12.5 million cubic feet of gas a day! Given previous comments from AZA that indicate the water drive will produce enough pressure to flow the oil at desired
rates, this gas will not need to be re-injected and is therefore now available for sale. So we can now add a very hefty chunk of gas revenue to the projected sales and profits. It is for this very reason that AZA is getting their floating platform kitted out to handle this gas and pipe
it off to sale. I am not sure if the market is yet to pick up on the revenue significance of this.
The AZA story just gets better and better.
AZA
anzon australia limited
