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48 hours would be more than adequate provided they have all equipment. For me this is the risky stage, but great price to buy in as proof of concept is not far away. |
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12:11 |
Re: Todays RNS good news |
EoDTrader |
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How long will mill/drill ot take. I assume now more than a week, but I dont know why I assume that !! |
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10:39 |
Buy Re: Todays RNS good news |
HPC Follower |
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Yes... this can take a few weeks to complete, but, since any commercial level of gas flow will make a material difference to the profitability of OEX at present, I expect to get another RNS once the plugs are drilled out and some measurements of gas/condensate can be taken at the surface.If the gas pressure is good, this will help push out the frac fluid; and the pressure should be excellent if every one of the 4 perforated areas delivers 5,000 psi to their finished 4.5" pipe.For comparison, VOG's la-105 pipe (now in production from just the lower levels of gas) delivered 11 to 56 MMscf/d plus 251 to 1,000 barrels of condensate at pressures of 2,750 to 4,522 psi - through a pipe limited to 90 MMscf/d. Only 8 MMscf/d usage makes the pipe very commercial at US$16 per Mscf. In India, the price is half, at US$8 per Mscf, but the gas grid is more readily connected through to customers.If OEX can get stable gas outputs at above 20 MMscf/d this would be very good - and there must now be a pretty good chance of this now - plus valuable condensate as well of course. |
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10:24 |
Buy RNS - Good News |
EoDTrader |
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Ok, now we are talking. THe biggest risk has been breached. With a caerful cleanup and (I assume) a flow test plan as well planned & executed as we are currently witnessing; I'll be a happy man in a few weeks.Really feeling some OEX warmth. Maybe the SP will over the next cpl weeks too....BTA |
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10:00 |
Re: CPR not yet probably |
Joatmon |
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I think a CPR on the reserves would need a second or third well in different parts of the reservoir to provide 'sufficient across the field data' - although we could get a rough estimate from Oilex on the potential to produce or something.A long term production test would be a good idea in my view with the revenue helping Oilex financially along with the gathering of good data.joatmon |
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10 |
09:52 |
Todays RNS good news |
Joatmon |
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11 |
The completion for the fracking and stimulation is obviously good news - we now await the milling out of the plugs and the cleaning up of the well, then the production testing.joatmon |
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12 |
Sun 06:48 |
Re: Estimated recoverable reserves. |
Joatmon |
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The reserves figure kindly given by HPC Follower from OEX January 2014 presentation are correct.However there are additional contingent reserves (which may or may not be recoverable) but it seems highly likely that some portion is recoverable given the sudden increased pressure noted in the fracking (which must have given access some part of the lower undrilled zones). These zones contain the contingent resources.Looking at the Aug 2013 Investor presentation page 6 gives "Net to Oilex recoverable best estimates of 63mmstb oil and 421BCF gas" - these would be additional reserves if/when proven. |
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14 |
Sat 19:30 |
Re: RNS - Good news |
HPC Follower |
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I thought the shale gas was deeper, but perhaps this refers to the prospective figures given by OEX?The HIGH (3C) prospective gross recoverable figures with 6bcf gas = 1 MMboe (million boe) amount to 1,158 MMboe, which is x7 the contingent resource figures.Given Magna Energy now have shares in OEX, rather than 15% of just the Cambay project, this gives OEX as a whole, the potential revenue at 45% of 1,158 MMboe x $100 = $52 billion less costs to extract, sell & overheads - an enormous figure... If just 5% of that could become profit for OEX, shareholders would all be very happy. |
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