Pan Pacific Petroleum Nl (PPP)

[blockhead]

Any time soon would be a good time for NZO to take a bigger chunk

[boysy]

indeed sp going lower though on small volume. Depends on what nzo intends on doing with its time and money. Once kupe and pike get up and running it could very well be too late for making a run at ppp.

[temptation]

From yesterdays announcement (repeated from earlier);

"The well encountered oil and gas shows while drilling and the results of logging established approximately 90m net pay comprising both oil and gas within multiple stacked reservoir layers. Two of these reservoir zones were tested and flowed at a combined rate of 3,265.4 barrels of oil per day plus 8.1 million standard cubic feet of gas per day, through a 48/64” choke. No water was produced from either zone."

Can anyone explain the significance of these numbers?

As I recall, at its peak Tui was producing 50,000 bopd from 4 wells, which presumably implies 12,500 bopd per well. This makes 3,265.4 seem slow, but is the 48/64" choke used so that the flow can be measured without taking too much oil (I guess they don't want 12,500 barrels of oil just yet!).
How would 3,265.4 bopd compare with the initial Tui discovery?

Why is it a 48/64" choke and not a 3/4" choke?

[notie]

From yesterdays announcement (repeated from earlier);

"The well encountered oil and gas shows while drilling and the results of logging established approximately 90m net pay comprising both oil and gas within multiple stacked reservoir layers. Two of these reservoir zones were tested and flowed at a combined rate of 3,265.4 barrels of oil per day plus 8.1 million standard cubic feet of gas per day, through a 48/64” choke. No water was produced from either zone."

Can anyone explain the significance of these numbers?

As I recall, at its peak Tui was producing 50,000 bopd from 4 wells, which presumably implies 12,500 bopd per well. This makes 3,265.4 seem slow, but is the 48/64" choke used so that the flow can be measured without taking too much oil (I guess they don't want 12,500 barrels of oil just yet!).
How would 3,265.4 bopd compare with the initial Tui discovery?

Why is it a 48/64" choke and not a 3/4" choke?

The test would probably be an open hole drill string test so it is done while the drilling drill string is in the well and not using production casing. It is a rough and ready method of establishing if you have productivity. This well is probably a vertical intersection of the reservoir and that sort of rate is pretty reasonable. depending on how they re drill and produce it such as using horizontal drilling then you could have a much longer intersection through the reservoir and a much longer area to produce from (which is what has been done at Tui). Tui-1 intersected a 10m oil sand but the large amount of reservoir intersection means flow rates are much higher.

The structure drilled in Vietnam is very different from the very low relief topography of Tui and is a high relief faulted block. PPP are saying there is 80 million barrels in it, but doesn't make it clear if this is recoverable oil. I presume it it http://www.panpacpetroleum.com.au/pd...on-29May09.pdf

[digger]

[QUOTE=temptation;263116]From yesterdays announcement (repeated from earlier);

"The well encountered oil and gas shows while drilling and the results of logging established approximately 90m net pay comprising both oil and gas within multiple stacked reservoir layers. Two of these reservoir zones were tested and flowed at a combined rate of 3,265.4 barrels of oil per day plus 8.1 million standard cubic feet of gas per day, through a 48/64” choke. No water was produced from either zone."

Can anyone explain the significance of these numbers?

As I recall, at its peak Tui was producing 50,000 bopd from 4 wells, which presumably implies 12,500 bopd per well. This makes 3,265.4 seem slow, but is the 48/64" choke used so that the flow can be measured without taking too much oil (I guess they don't want 12,500 barrels of oil just yet!).
How would 3,265.4 bopd compare with the initial Tui discovery?








This is one of those times you wish you had kept every scrap of info from TUI when it was discovered.I certainly remember TUI flowed from its exploration well much less than it does now and we did get BWR to explain that a exploration well can only give so much and is usually followed if results are encouraging by an appraisal well.I to would like to know if this choke size compares with the initial one used at TUI. Remember TUI has the best possible rock to take oil out but this one looks like it will be bigger so with differences hard to compare and at this early stage no-one in positions of inside knowledge will say a thing.
Still i would not be selling as it looks like the next drill is at the earliest possible time which is speaks for itself.Following the usual pattern the SP will drift down as some holders like only instant results and will not wait as with TUI.

[the machine]

[QUOTE=digger;263127]

From yesterdays announcement (repeated from earlier);

"The well encountered oil and gas shows while drilling and the results of logging established approximately 90m net pay comprising both oil and gas within multiple stacked reservoir layers. Two of these reservoir zones were tested and flowed at a combined rate of 3,265.4 barrels of oil per day plus 8.1 million standard cubic feet of gas per day, through a 48/64” choke. No water was produced from either zone."

Can anyone explain the significance of these numbers?

As I recall, at its peak Tui was producing 50,000 bopd from 4 wells, which presumably implies 12,500 bopd per well. This makes 3,265.4 seem slow, but is the 48/64" choke used so that the flow can be measured without taking too much oil (I guess they don't want 12,500 barrels of oil just yet!).
How would 3,265.4 bopd compare with the initial Tui discovery?








This is one of those times you wish you had kept every scrap of info from TUI when it was discovered.I certainly remember TUI flowed from its exploration well much less than it does now and we did get BWR to explain that a exploration well can only give so much and is usually followed if results are encouraging by an appraisal well.I to would like to know if this choke size compares with the initial one used at TUI. Remember TUI has the best possible rock to take oil out but this one looks like it will be bigger so with differences hard to compare and at this early stage no-one in positions of inside knowledge will say a thing.
Still i would not be selling as it looks like the next drill is at the earliest possible time which is speaks for itself.Following the usual pattern the SP will drift down as some holders like only instant results and will not wait as with TUI.

when tui was discovered the indication was gas not oil and it took ages for discovery to be recognised as oil.

M

[Pipeline]

Digger

None of the Tui discovery wells were tested, so there is no comparison here. The word on the street is that this discovery is very good.

As an experienced oily, dont get too concerned by comparison flow rates on discoveries. The initial wells today are rarely tested, so it makes comparisons very hard.

I own lots of PPP and AWE shares.

Cheers

Pipe

[Nitaa]

[QUOTE=the machine;263176]

when tui was discovered the indication was gas not oil and it took ages for discovery to be recognised as oil.

M

Unless we are talking about different time periods, when Tui was drilled they all showed approx 12 to 16 or so metres of an oil column. The wors they uesed were that Tui encountered "strong oil shows". All the other wells around tui were very similar except Kiwi which turned out to be a duster.

[the machine]

[QUOTE=Nita;263199]

Unless we are talking about different time periods, when Tui was drilled they all showed approx 12 to 16 or so metres of an oil column. The wors they uesed were that Tui encountered "strong oil shows". All the other wells around tui were very similar except Kiwi which turned out to be a duster.

just looked it up from february 12 2003, which updated discovery to a small oil discovery, rather than initial indication of gas.

then 6 weeks later on march 28 updated to a better oil discovery with new 3D planning.


M

[KentBrockman]

Any time soon would be a good time for NZO to take a bigger chunk

LOL! I think NZO is too lame for that.

Anyway....I wanted A$ 0.50-0.60 during their first t/o attempt; now I want at least A$ 0.80.

Actually, come to think of it, I want a buck, 'cause that's were PPP will likely be by years end anyway (or at least just prior to the upcoming Tui campaign).