I3 Energy Share Discussion Threads

[muddyfox0151] 13/9/2019 08:48

Everyone thought it was nailed on , even myself , was convinced, learning , curve for me ..

[greyingsurfer] 13/9/2019 08:45

I'm beginning to suspect that. I'm still trying to get to grips with the reasoning behind the change from apparently planning to drill L2 to going for Lpt2 as a pilot, to improve final postioning of L2. That certainly doesn't tie in with notions of 90% cos, but much more like a well aimed at trying to see how far the field went before pinch out. Seen in that light the results of the LPt2 well are less of a disaster than the general view round here seems to be. The company could perhaps have done a much better job at explaining what they were drilling, and why, but a lot of the reaction, here seems to be based on what look likes false expectations of what was being drilled.

[muddyfox0151] 13/9/2019 08:40

And nobody really questioned it , a chart showing in colour was one ?

[tsmith2] 13/9/2019 08:38

They won't because they clearly have an agenda

[muddyfox0151] 13/9/2019 08:37

Fabricated on twitter

[greyingsurfer] 13/9/2019 08:32

forlorn

No matter where do you drill 90% COS is 90% and it failed.

Can you tell me where you get the 90% cos from? I've asked here twice and only cc has bothered to answer, confirming my thoughts that it's probably a fabrication. If people are going to continue quoting that figure, could someone please back it up with evidence?

[gisjob2] 13/9/2019 08:29

The seismic of the oil bearing upper sands is at best unreliable. This should be improved with more data from this year's exploration and recalibrating of the model.

[fardels bear] 13/9/2019 08:27

Flying out the door, these, today..

[flawlesskicks] 13/9/2019 08:23

Yes, with flow rates and 3D you can guarantee the rough size... Not e, actly buy roughly you can get the oil volume in place and reserves.

[muddyfox0151] 13/9/2019 08:21

It doesn't matter what this goes down to, the upside on the next drill success is there !

[rumobejo] 13/9/2019 08:17

20p lol, no rabbits still 11% to gooooooooo

[muddyfox0151] 13/9/2019 08:17

Rabbit out the hat popped up lol

[muddyfox0151] 13/9/2019 08:15

We will all be a lot wiser in 4 weeks time , on next drill results

[f0rl0rn] 13/9/2019 08:15

No matter where do you drill 90% COS is 90% and it failed.

[tournesol] 13/9/2019 08:14

Flawless et al

Here is a very useful paper which explains the risks associated with appraisal wells.

See link at

Read it and you will see that your (talking to F) previous understanding is too simplistic by a large margin. There are more risks than you have appreciated.

[jungmana] 13/9/2019 08:13

A few days old from the daily mail :"AIM-listed i3 Energy Group had worse luck in its North Sea operations. It sank 45.3 per cent, or 25.3p, to 30.5p, after it said a well drilled to find out how big an oil reserve was missed the reserve entirely. It will go back to its geological data before trying again."

[gisjob2] 13/9/2019 08:03

Flawless,

You can get the centre wrong because you are assuming it's a centre. What if the upper sands run thin or out in the drill location ?. If it was that easy to suggest you are ok if you drill in what you think is the middle of a resource the COS would be 100% for most holes which doesn't happen.

You are assuming the next drill location is in the middle of the resource but not enough holes have been drilled to prove its the middle or to prove continued thickness of the upper sands.

[flawlesskicks] 13/9/2019 08:03

New well is nailed on to hit. I've been buying and selling oil cos for 12 years and I know a good bet when I see it!4 x bag quite possible from this level.

[nametrade] 13/9/2019 08:00

So, all you people who keep saying that this current well had a 90% COS... will one of you post the link to that info please...
Cheers

[flawlesskicks] 13/9/2019 07:50

It is a central location into the original oil find.It is a discovery that is already mapped out. Of course you can get the edges wrong but you can't get the centre wrong ffs! It's already an oil discovery! Tested pressures etc so they know how big it is!

[hairballradical] 13/9/2019 07:47

What was probably needed is a chance of success of hitting the so-called 90% cos well on this visit. That wasn't 90% and is even less now. So too is the so-called 90% cos of the well of course.