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Great news!
They've struck.............water!
Couldn't stop laughing reading about their latest 'discovery' in Penguin News
🙂
My old boss has about 25000 with them. Doh lol
Of course they found water. Its a Malvern Hills company, duurrrrr!! 🙂
nothing but water or have they just gone through the oil zone and water cut ? got a few mates that will have shrunken wallets 😉
pmsl
I seem to be missing a part of the story here - why is it funny that an exploration well is unsuccessful?
DrJ
It's funny as last week Desire announced they had made a significant discovery, which obviously boosted their share price. Red faces all round when it turned out to be crude.......sea water!
Bought in at 50 and sold a couple of months ago at 140. 😀
tankslapper ...
only funny if you have no clue about the potential difficulties of interpreting well logs.
[url= http://www.desireplc.co.uk/investor_relations_announcements.php?article_id=184 ]Their website[/url] has some information about how they made that mistake.
only funny if you have no clue about the potential difficulties of interpreting well logs
s'funny then coz I have no clue about potential difficulties of interpreting well logs. Phew.
s'funny then coz I have no clue [s]about potential difficulties of interpreting well logs. Phew.[/s]
Fixed that for ya.
i was at an oil company xmas dinner at the weekend and it was a recurring joke
i was at an oil company xmas dinner at the weekend and it was a recurring joke
That's just daft. Its not supposed to be funny if you have a clue about oil and stuff!
I too was at an oil company Christmas dinner at the weekend - they never mentioned it
To be fair though, it was the local BP Truckstop do 🙂
Means nowt to me but stoners last comment made me laugh.
im trying to work out whether uplink is employed at or stops at a BP truckstop. Are you our resident forum hairy-knuckled trucker called brenda?
im trying to work out whether uplink is employed at or stops at a BP truckstop. Are you our resident forum hairy-knuckled trucker called brenda?
Neither, I'm one of their suppliers but they do have a big hairy thing called Brenda working for them, maybe you remember her?
What comes out of the ground shouting 'Knickers! Knickers!'?
Crude Oil
What comes out of the ground shouting 'Underwear! Underwear!'?
Refined Oil
I thought this bit was absolutely ****ing HILARIOUS !
Using industry standard procedures, the initial interpretation was based on a calculated Rw value from a clear water sand only 55m above the target sand, of the same stratigraphic age and depositional setting. This calculated value was consistent with measurements from other wells in the basin. Unexpectedly, the actual Rw value in the sample taken from the main sand turned out to be markedly different and the target sand is now interpreted to be water-bearing.
😀
.
......thanks for the link DrJ
You're welcome. When you've finished with that, tune in to the test card - it's a laugh a minute!
Well I doubt very much whether the TV test card contains quite that level of irony DrJ.
But then again, I'm no expert on TV broadcasting.
could you imagine taking carpentry too seriously GG?
Irony? Not sure I see any irony. What I see is that someone looked at some data, made a standard interpretation, and was happy at the results. Now apparently that interpretation was incorrect so as a result, no-one made any money, no-one got a new job, and we don't get to keep the lights on a few minutes longer. Evidently that is frightfully funny, but I am still unclear how.
Not really Stoner, I'm usually in hysterics after I've cut a piece of wood into two.
you see I dont think that's very funny. Maybe I need to know more about carpentry to get it.
Well obviously you need to fully understand what's going on, to get the maximum comic value out of something. I suppose it just comes eventually with professional expertise.
Tbh can't understand how they got this so wrong. As a petrophysicist it really rather easy to tell what is gas, oil or brine(seawater). Using a simple suite of shallow medium and deep resistivities which are always looked to do exactly this in conjunction with a simple pulsed neutron you can tell rocktype, fluidtype, size of payzone and estimate permeability. If there was a significant prospect there why aren't any of the majors there? Simple because there is very little and even if/when someone does hit a hydrocarbon zone there is no infrastructure there so basically it economic, think pipelines, refinery access etc. Hope I've cleared that up for you all. Now if you do want some real tips of ones to watch I am open to bribery!
LOL !
I dont get it?
Well I'm not surprised Stoner.............never mind, eh ?
fwb - if the formation water is anomalously low resistivity, then presumably it can be mistaken for oil, n'est-ce pas? And I am not surprised that there was no pulsed neutron log in an explo well.
It would make more sense even if the formation water was a very low resistivity as this would imply its fresh water rather than saline. Hydrocarbons are by nature much more viscous than water and would therefore have a higher resistivity, as a rule of thumb gas can be anything greater than .1md and oil is typically >1md (millidarcy) using the shallow resistivity gives you the invaded (drilling fluid) zone and the deep resistivity gives you the virgin reservoir properties. As for not running nukes in an exploration well that makes no sense as the name suggests its an an exploration well and therefore the basin properties are not yet known, typically we run a full resistivity suite, full set of nukes(nphi, rhob & peg) and maybe an nmr tool to get a handle on the properties. In a mature production environment you could get away with a gr to determin rock and resistivity to determin fluid but in an exploration environment its a big no no. It really is pretty basic physics to be honest. Do you practise in this field drj?
Sheesh!
As I work in oil and Gas industry (at the dirty end mind not like DrJ and fwb2006 who clearly work at the clean end) I know loads of lads that have pumped thousands into Desire hoping it was going to make them rich, I don't find it funny though. I know one lad that has bought up around £100000 worth! On advice that he would make at least a million in 5 years, problem is he wasn't buying in the beginning when the shares were 24 pence a pop!
I do find it funny that if there are any reserves worth tapping into generally your BP's Shell's and Totals of the world are in there first with the rest coming in later and picking up the dregs.
This'd be funny if I'd not spent my entire evening doing something that'd probably end up being exactly the same...
Oil work's scary (at both ends) and I'm glad I'm not smart enough to work in it!
Fwb - did you actually say you are a Petrophysicist? If so that is a bit worrying as your post contains a number of very fundamental mistakes. Firstly - resistivity refers to electrical resistivity. Nothing to do with permeability. Second it makes no sense to talk about permeability of a gas. It is rock which is permeable or not. Third pulsed neutron is a log usually run in production wells. Other nuke logs are indeed run in explo wells
DrJ you are on the wrong forum you need to be here-[url= http://physicsmathforums.com/ ]For Stephen Hawking Types[/url]