Just a nice description of Zaedyus by Tullow's Angus McCall,from another board:

Intro (Angus)

Z-1 discovered 72m Net Oil Pay in 3 sands.

Primary Objective 39m. Light oil pay in main TF.
Shallower TF an additional 19m of “Intermediate Oil”.
Shallower than that 14m of “Heavy Oil Pay”.

The 39m Main Turbidite Fan was “On Prognosis” Very happy with that.
Additional pay “a bonus”

Q&A

P10 700mmbo just for Zaedyus main fan?

Yes. Just for Zaedyus fan and doesn’t include ZDeep/ZWest. (Scale bigger than Ghana. There are about 6 additional other fans with similar scale within the superfan. Not included). Result consistent with those resource estimates. Too early to revise. Didn’t anticipate shallower fan, that’s a bonus, early days for that.

Location of Well in Fan?

Well located near Apex of Z Fan and Cingulata Superfan System. Up at the top where the feeder channel comes in before it spreads out. High on the Stratigraphic Trap. 3 oil bearing blocky sands. High Net to Gross. Good quality reservoir. We’ve drilled 30 WATM wells and we believe we’ll find thicker and better developed reservoir sections both downdip and along strike as well as in neighbouring fans. First well unlikely to be best pay section.

Deepening Z-1 and Side Tracking?

Deepening well to gather further data on stratigraphy, temp & pressure, getting rock samples, core reservoir section of side track from Open Hole to accelerate reservoir engineering analysis/modelling. Won’t penetrate ZDeep as not ahead of us (off axis). Still designing Side Track. It will test Z fan only. The fans are enormous, about 200Km2. There's a limit to how far you can drill a sidetrack. It will be another 2 or 3 months before well completes.

Are you testing this well?

Not planning to test this well now but we may test it at a later date. We were drilling a wildcat where typically you have a COS of 15% or so. Testing would have incurred a lot of rig pre-investment. It’s standard industry practice not to have testing equipment on the rig for wildcats. But we saw good (oil) mobility from the testing tools and recovered good oils to surface. We got good logs as well. We don’t see any issues with a DST.

Well Costs?

Spent over $200m on this well so far but aim to halve the cost of repeat wells. This was the first deep well in the basin. We couldn’t take any chances, lots of contingent steel went into the ground. We probably didn’t need so many contingencies deployed but it was prudent to do this in an uncalibrated basin. We have a well now, we have a good measure of pressure regimes and there’s nothing too extraordinary here.

Source Rocks?

Not disclosing too much proprietary info on this, other than it was a successful test of the Jubilee Play. The Source rock is charging the reservoir. The Guyana-Suriname Basin is west of the Demerara High. Zaedyus was east of the Demerara High. West Side already has a known Hydrocarbon System that’s charging the Tambanedjo field onshore Suriname. We suspected the play extended (to the east) regionally throughout the Equatorial Atlantic. Zaedyus was a successful test of that. But it’s not just about charge and source, there are sweet spots where the Turbidites come into the basin. It’s also about where the reservoirs are and where the turbidite fans are and Tullow has uniquely positioned itself on the major Turbidite Systems that enter the play. We are sitting on those fan systems off Ghana, Ivory Coast, Liberia, Sierra Leone, French Guyane, Suriname and Guyana. It’s a unique position in the industry, sitting on the prime locations.

Reservoir similar to Jubilee?

Still early days. Need cores to make a comparison. Good blocky sand with a high Net to Gross. Good mobile light oil going to labs.

Seismic Attributes?

Well came in bang on prognosis as we were drilling. The well result matched seismic very well. We now have enhanced confidence about our interpretation (of the half-a-dozen or so) undrilled equivalents in the 3D Seismic Survey.

Bright Amplitude Events at a similar Horizon?

Yes. But it’s a bit more than just the amplitude. We can see the Geophysical Signature of what we’ve just penetrated in numerous other bodies and overall these bodies make geophysical sense as they have the geometries and characteristics of Turbidite Fans, which we just demonstrated and tested with remarkable accuracy. Actually Zaedyus was bang on. We are quite confident about the undrilled fans but of course they need to be drilled. These other prospects don’t look any different to the Zaedyus fan.

Without a (previous) well, the well matched our seismic analysis very well. Now we have a well (in the basin), we can calibrate, fine tune it and re-rank. We also expect to illuminate some other opportunities as we have more accuracy on the calibration. All looking pretty good.

The well logs matched depths very accurately all the way down. We have drilled 30 wells in this play, have 1st mover advantage. Lots of experience. It looked like very familiar Equatorial Atlantic geology.

Oil Water Contacts?

No OWC’s yet in well. We have oil down to, filled top to base. And we can’t see OWC’s on seismic.

Does it de-risk Matamata/Rest of Block?

Certainly does. Matamata is a giant 4way dip closure (anticline) on the eastern side of the Demerara High. The main risk was, Is there a petroleum system east of the DH? We’ve proved that. The petroleum System also de-risks the rest of the block. There’s a second (smaller) fan system (Saguinus and Saimiri) between the Zaedyus Superfan and Matamata. And another independent fan system (Cebus) to the east near the Brazilian border.

All very exciting really.