CASPIAN - 2005 Year of Growth - Serious Discussion Thread

Alvin123 - 20 Oct'05 - 21:51 - 19606 of 19735


VAV, I dont think pvr will get much based on a plugged and abbondoned
well do you i suppose your answer to that will be a bit unlucky after
suggesting it would be a dead cert.

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Comment.

Alvin it’s not your fault you do not have a clue about the oil business and this is the main reason why you are in the shit with your investment in CSH.

Let me see if I can educate you about Plugged and Abandoned wells.

The well in question was an appraisal well and was drilled to confirm or disprove the findings of 2 prior wells that found hydrocarbon accumulations.

The 3rd well did confirm the presence of hydrocarbons and was plugged and abandoned.

This well may or may not, as with the other 2 wells be re-entered in the future.

Now for the uneducated such as you Alivin these 3 wells will have also gleaned invaluable information as to where to put the actual development wells.

Again for the uneducated Alvins out there, appraisal wells are not necessarily the optimum location to place a development well.

This is one of the reasons you drill an appraisal well Alvin. To confirm the presence of previously discovered hydrocarbons.

This has probably completely gone over your head Alvin but just in case here is some back up information posted in an effort to widen your horizons in regard to the oil business.

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Providence Resources PLC
13 January 2005


History of Aje, OML 113

As reported in the most recent independent technical assessment (completed in October 2004), Aje is located in water depths of between 325 feet and c.3,000 feet and is 15 miles offshore being some 40 miles southwest of Lagos.

The discovery well, Aje-1, which was drilled in 1996 encountered oil and gas in reservoirs of Cretaceous age, and flowed at an aggregate rate of 42 MMSCFD and 2,262 BOPD over three zones.

An appraisal well, Aje-2, which was drilled in 1997 flowed 3,866 BOPD from an additional zone which had not been tested in the Aje-1
well.

The October 2004 independent technical assessment of Aje indicates that appraisal drilling has the potential to confirm large volumes of commercially viable oil and gas reserves.

Appraisal drilling on Aje during 2005 will be undertaken with this objective.

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Comment.

And now Alvin we come to the confirmation that this plugged and Abandoned well has done what it was intended to do.

Confirm the findings from the 1st exploration well and the first appraisal well.

Following Alvin.

( Doubt it )

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3/Oct/2005

Lundin Petroleum AB ("Lundin Petroleum") would like to announce that the appraisal well Aje-3 has reached its target depth at 8482 feet (2,600 meters).

The well reached its reservoir objectives as anticipated and a detailed logging programme was acquired and interpreted.

The Aje-3 well will be plugged and abandoned.

Ongoing interpretation of the newly acquired data will evaluate the Aje structure as well as the remaining potential in Block OML 113.

All three wells on the Aje structure have proven the existence of an active petroleum system and the presence of a well developed reservoir and seal in the block.