The Warwick West exploration well successfully encountered light 43o API oil, which upon initial analysis seems similar to the oil found at Lincoln and Warwick Deep. The well flowed at a maximum stable rate of 1,300bbl/d, which is unlikely to be commercial; however, this flow rate was not enhanced by ESPs (pumps) and the well had not fully cleaned up, meaning this was not a clear-cut result. Also, there was just 0.5% water production, which is encouraging. The result also supports the model that ....
04 Dec 2019
Warwick West exploration well result is mixed but share price reaction seems overdone
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Warwick West exploration well result is mixed but share price reaction seems overdone
- Published:
04 Dec 2019 -
Author:
Anish Kapadia | Jay Ashfield | Hamish Clegg -
Pages:
9
The Warwick West exploration well successfully encountered light 43o API oil, which upon initial analysis seems similar to the oil found at Lincoln and Warwick Deep. The well flowed at a maximum stable rate of 1,300bbl/d, which is unlikely to be commercial; however, this flow rate was not enhanced by ESPs (pumps) and the well had not fully cleaned up, meaning this was not a clear-cut result. Also, there was just 0.5% water production, which is encouraging. The result also supports the model that ....