Equator Exploration - W. African Oil / Gas Giant in the Making (moderated)

mach - I think that you will agree that i agree that Bilabri has been a disiater.

if it was a success then this would be trading at say £2.50 - £3. However it has not been hence the discount.


Reading the other sites there could be drilling in Q1 Q2 2007 on blocks 2 and 4 of the JDZ or we may get a shitty RNS in the morning so price may shift on any rumour or news or may just crash at any moment. This is the EEL for you.

The new guys doing the reservoir interpretation will give similar numbers IMHO.

Now what I could not understand from the last RNS is this:

Is the reservoir 48 meters bigger in the center or is it just that it was higher but the same size???? Not clear. Bigger = more moolah.... Higher = f**k knows - could be less moolah :-(


I would say Wells 1, 3 and 4 are the producers. Well 2 is the dud IMO as it is only gas here and they were never intending this as C2 producer IMO and after the failure to find C1 oil.


Compare EELs RNS to AFR's. EEL's first well on TEST FLOWED at 7000 BOPD and AFR state that their well will flow 4000 BOPD (rather like IAE) on PRODUCTION.

Also this was restricted by heat:

"After a 24 hour shut-in period, the well was re-opened for the Max Flow Test,
which lasted for 31/2 hours and was designed to measure the highest rate that
could be achieved within the constraint of the maximum heat that could be borne
by the rig. The rate achieved was 7,188 bopd on 64/64" choke."

Now how big is a 64/64" choke? I think it is the production choke. So could be higher but am not holding out hopes. If they have a really high flow rate the field may be finished in 2 years :-( .....



Now DX-1 is not a horizontal well.

D-4 is a horizontal well. Horizontals are supposed to flow better. ( i read this on a BP site somewhere today about FPSO.

So I reckon the average will be 15000 BOPD for 3 years but to be cautious we will assume 12000 BOPD for 3 years. Also as with many things the field may last more than 3 years or it may f**k up.

We just don't know. look at Chinguetti - started at 70,000 BOPD and now just over 20,000



Compare what AFREN say (now I like/love AFR too AFR holders so don't shoot me down)
"Flowing tubing head pressures and other Petroleum Engineering data recorded
during the test, INDICATE that estimated production capacity for a completed
production well would be in excess of 4,000 barrels of oil per day"


Now EEL have not commented on what they think the production rate for the first well and the tossers slipped in the 4th well into the AGM and did not release the info to the market.

So if the first well flowed 7000 could this and the other do the same? Maybe but lets not hope for 20000 BOPD from this field.