Otto Energy Limited announces that the OCS G - 34266 #F - 2 well (‘SM 71 F2’), operated on behalf of the joint venture by Byron Energy Ltd within the South Marsh Island 71 (‘ SM 71 ’) lease in the Gulf Of Mexico shelf , has encountered four discrete hydrocarbon bearing sands.
On 25 December 2017 (11.00 PM USA Central Time) the F2 well had reached a depth of 8,615 feet measured depth (“MD”). A triple combo Log While Drilling (LWD) tool, which includes neutron/density porosity data, has been acquired over the prospective portions of the wellbore. Based on preliminary evaluation, the transmitted resistivity and porosity log data demonstrates the presence of oil across all four separate pay intervals, summarized as follows:
| Zone | Top of Sand (feet) MD/TVD | Base of Sand (feet) MD/TVD | True Vertical Thickness Net Feet Oil Pay |
|---|---|---|---|
| J 1 Sand | 6,819/6,455 | 6,835/6,468 | 11 |
| B 55 Sand | 7,266/6,727 | 7,288/6,739 | 10 |
| B 55 Sand | 7,488/6,838 | 7,572/6,880 | 52 |
| D5 Sand | 8,205/7,200 | 8,405/7,300 | 117 |
All four sands exhibit excellent reservoir quality and are expected to be capable of high quality production based on analogous productive zones from the SM 71 and 73 Fields. Each of these four sands has been productive in other areas of the SM73 field.
Net oil pay counts are preliminary and based on the transmitted LWD data. Final pay counts will be calculated if, and when, logging while drilling (“ LWD ”) memory data becomes available and upon the completion of a petrophysical analysis.
While drilling the final section of the hole in the F2 well below the D5 interval, referred to as the “rathole” (extra hole drilled at the end of the well beyond the last zone of interest in order to facilitate completion), the drill pipe became stuck approximately 214 fee t below the bottom of the D5 Sand. The current operation, at 2.00 pm USA Central Time, 26 December 2017 is working to free stuck drill pipe.
