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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (752)	10/4/1998 7:42:00 PM
From: Tomas	Respond to of 2742

The Falklands: More on the rumours that Shell did have a major oil find From the British Eye-to-Eye discussion Forum 03/10/98 Posted by Oily1 Rumours circulating the offshore drilling industry in the North Sea are that Shell did have a major find off the Falklands. If they did it's anyones guess as to why they ain't spilling the beans. Maybe this accounts for why they are doing a second well so soon down there ? It will all come out in the wash ! According to various people who've been doing wireline ops on the Borgny Dolphin, (the semi-sub doing the drilling), then it's one hell of a gusher. Very porous reservoir. I was told that magnetic resonance imaging wireline equipment was used down there - and you only use that when you've hit the jackpot. Time will tell. Ciao for now, Oily1. _____________________ 04/10/98 Firstly please let me try to explain what wireline is. Wireline is used for a lot of uses down the hole. From trying to move something stuck down the well to using well logging equipment, which is attached to the end of the wireline and moved to the bottom of the well. Well logging is a widely used evaluation technique. Many different kinds of logging tools are available. Some measure and record natural and induced nuclear, or radioactive, attributes of a rock. Others measure and record the way in which formations respond to electric current. Another log measures and records the speed with which sound travels through a formation. These are only a few of many logs available to the operator. By interpreting the recordings, or 'logs', the operator can usually tell if the well will be a producer. The operator, (which in this case was Shell), gets the logging company on the rig to lower these logging tools into the well on 'wireline', (hence the term). They lower the tools to the bottom and then slowly reel them back up. When activated, the tools measure formation properties. The tools transmit the data they gather to the surface. There, special recorders and computers store the information. For on-site evaluation, computers in the 'wireline lab' print the data. These logs give the operator a first look at what a formation may yield. By carefully examining well logs, the operator can determine whether to complete the well. Well logs not only indicate the presence of oil and gas, they also indicate how much may be there. NMR was used on the Shell well, (Nuclear Magnetic Resonance). That's the same sort of thing which can do a whole body scan in a hospital, so the experts tell me. From this type of logging equipment you can get a good indication of permeability, porosity and fluid types all in one go. As regards why Desire/Sodra aren't rocketing, who knows ?, I agree that Desire have been been pushed up and down in price by the speculation of what's going on down south. Maybe people are just waiting on something to be announced before they go near these companies, afterall, they are a speculative stock, but the rewards could be very high. I just happen to be in the right business to know certain people whose companies are working on the Borgny Dolphin and knowledge of what's going on down there. Nothing will come from Sodra or Desire about the Shell drill because they are bound by confidentiality. Grey Wolf on SI thinks that Sodra/Desire will be a lot more open about their well results. Let's hope so. Ah well, time for another smoko. I'll soon be back on the beach. Oily1. ________________________ From Oily1's personal profile on Silicon Investor: Name: Oily1 Company: Major drilling contractor, (offshore - semi-sub) Location: Scotland College: Portsmouth, England (https://www.siliconinvestor.com/profile.aspx?userid=4848473)

To: Tommaso who wrote (752)	10/8/1998 3:26:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

STANLEY, Falklands (AFX) - Sodra Petroleum AB, currently drilling an exploratory well in Tranche F north of the Falkland Islands, is planning to release a "definitive" report on its activities in the next two weeks, according to chairman Adolf Lundin. The group's well is currently at 9,642 feet and a number of seismic tests and core samples have been collected over the past few days. A decision as to whether to proceed to the target depth of 12,385 feet or abandon drilling will be made in the next 72 hours. Lundin was speaking to AFX News after a two-day trip to see the company's activities in the region but was unwilling to give any indication as to how successful the exploration has been so far. Sodra's drilling activities come after exploratory wells drilled by Lasmo PLC, Royal Dutch/Shell and Amerada Hess which met with varying degrees of success. The oil companies, operating under the Falklands Offshore Sharing Agreement (FOSA), are using the Borgny Dolphin semi-submersible rig which is being towed from exploration area to area. Sources on board the rig said Sodra's drilling "has not set the world on fire" and early technical data collected appears, at first glance, to be "inconclusive". The rig's next planned exploration, which will start as soon as Sodra has finished with it, is to drill a second well for Amerada Hess after which it will be used for a second time by Shell -- in deep water over two hours' helicopter ride from the mainland. "That second Shell well should be very interesting," sources on the rig said. Earlier this summer Shell said its first well encountered hydrocarbons but not in commercial quantities. However, the well did find a lot of gas for which there is as yet no market in the region. Sources who have been with the rig under Shell's stewardship said the well Shell abandoned at the end of its exploration was 'plugged' with seven separate concrete sections in order to hold the gas, compared with the usual three. Among all the recent explorers, Sodra, operating as IPC in the region, has collected the most complete set of core samples from the North Falklands basin where exploration is currently centred. Drilling manager Scott Drawe said the group's well in tranche F, in which Desire Petroleum PLC has a 12.5 pct stake, collected an intact 60 foot core sample on Monday night. Drawe said the other oil companies have managed samples of "a few feet at most". However he refused to comment on the preliminary results of the sampling. Sodra has the authority to drill a second well in tranche F if it so desires. Lundin said the group will wait until the findings from its current well are known before deciding to drill a second well. If it does drill another well, drilling will probably take place at the end of this year. Lundin pointed out that Sodra has the financial capability for such a task-- at 350,000 usd a day drilling another well would cost about 10-13 mln usd -- without resorting to any cash-raising exercise. However he was in no doubt as to what will happen if no oil is found. "If we don't find anything, part of me of will die, because I have come to like the country and its people. When you are looking for oil you start to think about producing it and the effect that will have on the area," he said but added: "If there is no oil it's arrivederci." At 3:10 PM, shares in Sodra were 5 pence weaker at 25-1/2 pence while those of Desire were down 24 pence at 75. Source: Hemmington Scott Information Exchange, posted by GHHGHH