Tikorangi limestones.

Just to put this out there.
IMO we will see new charge at the Tikorangi within 9 months based on 2 scenarios..
The primary reservoir was NOT intersected due to geological and well modelling mistakes it seems.
Is the deeper Tikorangi formation there or not at the Puka location ....? That is the question.
If it is there, is it oil charged like it is 3 km away ?
Geos and subsurface teams will now be doing intense after event analysis and remodelling to see what happened.
Remember we also hit some 200 mtrs of hydro carbon shows as well after the MM sands but could not open hole wireline log due to hole stability issues and likely formation cave ins ..

What we know is , We have hit a sweet spot for MM sands... so now 2 scenarios....
Also remember a potential Tikorangi 3 well is now further derisked although that sounds crazy, as it is now clear where the required formation is NOT and that is not where Pukatea hit TD , but it is where Douglas 1 hit TD but was water wet... so seems to me on Back of fag packet well modelling , we need to be further to the right of Douglas and further to the left of Pukatea..

1- New well of same wellpad , intersect the MM sands some 30 mtrs away at COS of likely 75% ...to produce from there ( puka 4) then drill down into new remodelled deviated target to intersect the primary Tikorangi formation.
Cost of well $2.5mm to $3 mm with virtual assured additional production from puka 4.

2- Sidetrack existing Pukatea OR Douglas well.....to drill into a new remodelled deviated target
Cost of sidetrack $ 1mm to $1.5mm

The Tikorangi limestones are an acute producer of oil just 3 km well, there have been to my count at least 5 teams of company geos looking at it and seeing it as high potential in our field we hold with TAG.
We now have 2 wells drilled, one Down dip and predominantly water and one updip which did not even intersect due to a geological overhang fault.
The full facts of why we failed at the primary have not been released and I suspect a lot of work is going on to ascertain, what happens and why it happens and how it can be avoided if it was attempted again.....

This is still an attractive low cost target and a potential Tikorangi 3 will actually come with a slightly higher CoS due to hydro carbon shows in 200 mtrs of open hole at Pukatea , known locations of water faults at Douglas and known locations of geological overhangs and formation conditions at Pukatea....
I have an inkling that we may not have heard the last of the Tikorangi limestones...