Re: PHUN selling or someone else - Lanman
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Falcon is a global energy company with projects in Hungary, Australia & South Africa
Developing large acreage positions of unconventional and conventional oil and gas resources
Message: PHUN selling or someone else
>I'm only going on memory, but the Austrailian play could be quite significant, and the geological characteristics are quite good in respect to tight gas.
Ben Law thinks their may be a BCGA in the Beetaloo, but that has never been proven by the drill bit.
>Are they targetting gas only in this first endeavor, or can they hit oil as well.
Yes :)
"Evaluation of drilling results in the Shenandoah #1 and seven other existing wells in the Beetaloo Basin indicate oil and gas prospectivity in the Kyalla Shale and a drilling and stimulation program to test these horizons is planned to commence in the Spring of 2009."
The basin has many thousands of meters of sediments, but the reservoirs of interest to us are within 4,000 meters of the surface, most less than 3,000 meters.
Three primary plays have been recognized within the basin. The first is a conventional structural, shallow sweet oil play of 35° API gravity.
The second play is an unconventional fractured shale play within the Kyalla and Velkerri formations, not unlike the Barnett Shale play in Texas
Finally, the Moroak and Bessie Creek sandstones offer a Basin Centered Gas Accumulation (BCGA) play at the center of the basin.
>If they hit some good logs etc. wouldn't exxon be interested here as well.
Highly unlikely at this stage. It's way too early for that sort of speculation.
>can they proceed and develop the shallow zone only ,or do we have to go the same long route as in Hungary to satisfy all the license and ownership problems at all depths and define the exact boundaries of the trough??
If they wanted to develop a conventional play, they would probably proceed with the normal method of doing so. Drilling wells and selling the gas/oil.
Developing the unconventional plays would probably proceed like all unconventional plays do....delineation comes first.
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