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w4g,
AFAICS encountering the gas column is merely as expected. [ http://www.investegate.co.uk/Article.aspx?id=201009300703195771T ]. Is this not simply the same reservoir section encountered in Trzek-1? Not finding it would have been pretty disastrous!
The real tests will come when the horizontal section is drilled & fracced.
It's that flow test that will determine whether the acreage might be commercial.
FYI (and I intend to cover this in more depth in a separate article), Trican reported that there had not been any truly successful MFHW's yet in Europe... but that Poland looked promising. This well really looks to be at the "bleeding edge", so hope, for the sake of holders, that it turns out to be a success.
Best of luck!
Mark
Mark
Have you seen this morning's news? :
First Siekierki Multi Fracced Horizontal Well ("MFHW") Trzek-2 successfully completes horizontal section encountering 1378.5 metres of Gas. Now ready for fracture stimulation
o Horizontal section successfully completed encountering 1378.5 metres of Rotliegendes Gas with potential sweet spots and porosities of up to 15%;
o Well now ready for up to 10 stage fracture stimulation;
o Ongoing severe weather expected to delay flow test to January;
o Trzek-2 still expected to complete within Budget; and
o Trzek-3 expected to spud early January.
I suspect you have more understanding of the drilling process than me. On a percentage basis how much does this reduce risk or is it all in the 'fraccing' process?
w4g
Off on one this morning....... all they've got on the go at the mo, AFAIA, is the Siekierski testing & the Bieszczady well. Possibly the sweet spots in Siekierski are just that? Seems far too early for a leak on the Bieszczady well
Maybe also a belated effect of the news (RNS Dec 9) that Soros Fund Management had gone above 4%.
Perhaps E.Europe is just flavour of the week - SLE did well yesterday.
db