Here, I'll answer my own question. AEP just put out a press release about their drilling in Trinidad.
Alterra Resources receives drill results at South Erin property
Mr. Greg Muzzatti reports
The company's option agreement with Abstract Enterprises Corp. is
proceeding and drilling is on schedule at Well ER-97, exploratory location
F20/0C-4/OB-3, at the company's 1,350 acre South Erin property in Southern
Trinidad. Halliburton Trinidad Ltd. reported that as of 6 a.m., April 9,
drilling was at 3,466 feet after six days on the well. Total drilling time
has been estimated at approximately 14 days.
Drilled as a deviated well from location F20/0C-4/OB-3, the well will test
for total probable recoverable reserves of 1.79 million barrels of oil in
the Lower Forest A and Lower Forest C sands to a planned depth of 6,000
feet. According to an independent geological report completed by ML
Geotechnical Consultants Ltd. of Trinidad successful completion in both
horizons could support an initial productivity of 300 barrels of oil per
day and estimates 1.22 million barrels of probable recoverable oil if this
well encounters 80 feet of net productive oil pay.
According to the report, the Lower Forest A is well developed over most of
the property with southwest/northeast trending channel systems, the
thickest portions having over 100 feet of gross sand. Fault block 13 is one
of the extrapolated oil producing trends and is estimated to contain
920,000 barrels of probable recoverable reserves at a target depth of 4,350
feet subsea. The Lower Forest C has similar trends and characteristics in
terms of distribution and gross sands thickness relating to fault block 13,
and is estimated to contain an additional 870,000 barrels of probable
recoverable reserves at a target depth of 5,020 feet subsea.
Well ER-97 will also explore the Upper Cruise sands from 5,600 feet subsea
as this zone has shown productivity in the adjacent Palo Seco oil field
which has produced over 200 million barrels of oil.
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Now, can anybody out there tell me what all this means? Is it Good? Bad? Is it just rhetoric? Or, does it show promise? |
