WELL PROPOSAL
WellNo. 45
Well No. 45
May 12, 2012
TABLE OF CONTENTS
•Location
•Objective
•Geology / Reservoir risks
•Cost and Economics
FIGURES
E-7 Production & Cashflow Forecast Chart
ATTACHMENTS
A-1 Preliminary Well Cost Estimate
Well No. 45
SUMMARY
Objective: To drill a successful oil producing well on the Southwestern culmination of the Field.
•Primary Objective: layer A
•Secondary Objective: Layer B
Surface UTM coordinates: 587,808mE, 1,684,996 mN
Approximate Spud Date: 4th Quarter, 2012
Production Rate: 1,500 STBOPD
Flow Stream:
Year MSTB
2012 150
2013 404.7
2013 329.6
2014 229.5
2015 159.8
Total 1273.6
OOIP (MSTB): 4,368.7 2,948.5
ROIP (MSTB): 1,310.1 1,326.8
•Geology / Reservoir risks
- Risks are considered to be minimal at this location with respect to encountering a thick oil
column in good quality reservoir in the Zone A as there is good seismic and well control.
- Commercial pay in the Zone B Sand poses a rather higher risk because it is not well
imaged on seismic and there is less control on the present OWC in this pool.
•COST AND ECONOMICS
- Drilling, completion and equipping costs are anticipated to be $3,216,300.
A detailed cost estimate has been prepared and is included as Attachment
-Well conditions encountered are projected to be similar to other wells previously drilled in the area but costs may vary according to different conditions encountered
- for a quick reference, a simple cash flow analysis was performed using the production schedule shown. With an estimated capital expenditure of $ 3,216,300, a constant oil price of $80/bbl
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