• RISC estimate that the Anshof field holds 5.2 mmboe of 2P gross reserves (4.2 mmboe net to ADX). This is well ahead of our expectations of ~1.8 mmboe. 85% of the previously estimated mid-case recoverable resources are now classified as 2P reserves.
• The 2P reserves estimate is based on an assumption of a water oil contact at 1,720 m and includes the area of the field where the sand thickens. The oil-down-to intersection from the PK-005 well at the western edge of the Anshof structure supports ....
31 Oct 2022
ADX Energy Limited (ASE: ADX): Anshof Reserves estimate well above expectations
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ADX Energy Limited (ASE: ADX): Anshof Reserves estimate well above expectations
• RISC estimate that the Anshof field holds 5.2 mmboe of 2P gross reserves (4.2 mmboe net to ADX). This is well ahead of our expectations of ~1.8 mmboe. 85% of the previously estimated mid-case recoverable resources are now classified as 2P reserves.
• The 2P reserves estimate is based on an assumption of a water oil contact at 1,720 m and includes the area of the field where the sand thickens. The oil-down-to intersection from the PK-005 well at the western edge of the Anshof structure supports ....