Market Reaction: slightly negative. Our risked value for this well is £0.04 per share. The volumetrics were in line with pre-drill expectations. As anticipated this is heavy oil, however the bottom oil temperature was at the lower end of expectations and as a result, oil will be less mobile than initially hoped for. Further tests will be required to assess oil mobility which is the key challenge to get a handle on commerciality.
05 Aug 2016
BAGPUSS WELL RESULT IN THE UK
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BAGPUSS WELL RESULT IN THE UK
Harbour Energy Plc (HBR:LON) | 285 1.7 0.2% | Mkt Cap: 2,194m
- Published:
05 Aug 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: slightly negative. Our risked value for this well is £0.04 per share. The volumetrics were in line with pre-drill expectations. As anticipated this is heavy oil, however the bottom oil temperature was at the lower end of expectations and as a result, oil will be less mobile than initially hoped for. Further tests will be required to assess oil mobility which is the key challenge to get a handle on commerciality.