In mining, the same framework may be applied to gold, copper, lithium, nickel and other targets. The geological, geochemical, soil, surface, physical and laboratory characteristics of the new area are compared both with areas where mineralization was confirmed in the past and with areas where economic mineralization was not confirmed in drilling or sample results.
The system seeks to identify zones whose combined characteristics more closely resemble environments that were mineralized in the past, and to classify and prioritize targets within a large licence area on a relative basis.
Similarity alone is not evidence of an economic deposit. The final determination of resources and reserves requires drilling, representative sampling, laboratory assays, geological and structural interpretation, three-dimensional modelling, continuity assessment, metallurgical testing where necessary, and independent technical evaluation.
To date, various high match rates have been reported in FindR's internal field records. For the 79 boreholes in oil exploration whose results have been completed, the algorithm outputs are stated to be consistent with the field results. It is further noted that, in certain data sets and cases tested, target match rates of up to 99.99% have been reported.
REAL FIELD TESTING IN OIL, AT 124 DRILLING LOCATIONS
FindR's claim does not rest solely on theory or laboratory work.
To date, 124 oil drilling locations determined at the conclusion of conventional exploration processes have been accessed independently, and for each location only two basic predictions have been produced:
"There is producible oil or gas." "There is no producible oil or gas."
A portion of these locations are the points at which companies decided to drill in their fields, sent to us by those companies; the remainder consists of well locations and well names obtained by FindR for the purpose of independent testing.
The data for these wells were obtained independently through local sources of information in the areas near the drilling points and through third parties working in the drilling operations, rather than directly from company executives or decision-makers.
Once the well locations and names were reported to FindR, the predictions were produced, placed on record, and subsequently compared with the field drilling results received from the persons through whom we obtained access to the well information.
To date, drilling has been completed at 79 of the 124 wells.
RESULTS AT 79 WELLS
- For 42 wells, FindR predicted "no producible oil." The field results matched this prediction.
- For 37 wells, FindR predicted "producible oil present." The field results again matched the prediction.
Thus, at all 79 wells for which results have been obtained, the prediction matched the field result.
Two of these 79 wells are offshore oil and natural gas drilling locations.
The field results for the remaining 45 wells are being monitored, as they have not yet been completed. As results are obtained, FindR's overall performance will be reassessed.
- TWO WELLS ONLY 164 METRES APART
One of the most striking examples demonstrating FindR's precision is that of two wells in the same field, only 164 metres apart.
For the first well, FindR predicted:
«"Drilling is being carried out at the correct point, over the selected oil reservoir area, and oil will be found here."»
When the drilling was completed, the result matched FindR's prediction entirely, and oil was found in the well.
However, for the second well, just 164 metres away, FindR produced a different result:
«"This drilling is being carried out outside the oil reservoir area. It will end in failure and will be a dry hole."»
The drilling result once again coincided entirely with FindR's prediction.
This example shows that, even though the two wells are only 164 metres apart, FindR was able to distinguish between a full oil reservoir area and an empty area, or one containing no producible oil, and between the correct drilling point and the incorrect drilling point.
Likewise, in a field with more than 70 production wells, FindR correctly predicted the outcome of 5 dry holes weeks and months in advance.
- A RESERVOIR IS PRESENT, BUT THERE IS NO PRODUCIBLE OIL
In another field, the locations and well names of three neighbouring wells were reported to FindR, and a prediction was requested regarding the drilling results.
FindR's assessment was:
«"Yes, these three boreholes are drilled over a reservoir area; however, there is no producible oil here."»
When the drilling was completed, oil shows came from the wells. The field team was thereupon obliged to decide whether the wells would be closed as dry holes or brought into production.
In the end, it was decided to bring the wells into production. However, FindR maintained its earlier prediction and stated:
«"There is no producible oil."»
After the wells were brought into production, they produced only 401 barrels of oil in total and were subsequently recorded as dry holes on account of the water–oil balance. Production was halted and the wells were later converted into injection wells.
The significance of this example is that it shows the question is not, in fact, whether a reservoir is present or not. The reservoir is there, and oil shows are present as well. The critical question, however, is whether the reservoir contains producible oil in quantities capable of delivering economic and sustainable production.
FindR's prediction was realized at precisely this point:
The reservoir was there, but there was no producible oil.
- THE RESERVOIR IS CORRECT, BUT THE DRILLING POINT IS TOO CLOSE TO THE BOUNDARY
Another company shared with FindR the drilling location at which it believed oil to be present at the conclusion of conventional exploration processes.
According to FindR's assessment, the selected location was indeed within a reservoir area, and there was oil within the reservoir as well. In other words, the choice of reservoir was fundamentally correct.
However, there was a critical problem:
The well location was very close to the outer boundary of the oil reservoir area.
For this reason, FindR predicted that oil production could be carried out at the well for a time, but that production would not be sustainable and that, shortly afterwards, the well would cease to produce and be recorded as a dry hole.
The field result again coincided with FindR's prediction. The company carried out production at the well for a period but was subsequently obliged to shut it in.
This example shows that selecting the correct reservoir is not sufficient on its own; selecting the correct drilling point within the reservoir is also critical to drilling success.
- A PREDICTION REGARDING PRODUCTION VOLUME
At one of the 124 drilling locations, when we met the owner of an oil company, the company had made a new discovery in its fields and had brought a well into production.
The company official shared with FindR the location of a new well of which only the first 100 metres had been drilled and for which a total depth of 2,700 metres was targeted, and asked for our prediction regarding the drilling result. The distance between the two wells was 700 metres.
In order to carry out our assessment, we also requested an oil sample — about the size of a small water bottle — from the well already in production in the same field, and it was sent to us.
As a result of FindR's assessment, the prediction that the new well was positioned at the correct point and over the oil reservoir area, and that "producible oil would be found" in the well, was communicated to the company.
The notable aspect of this work was that the assessment was not limited solely to the prediction of "producible oil present."
There was an analogue well in the same field that had been brought into production and whose production volume was known. Comparing the data obtained from this well with the assessment relating to the new well, FindR predicted that the new well's daily oil production could be approximately 60–70% higher than that of the analogue well.
About a month and a half passed. As the new well approached the target depth, according to the field information shared by the company official, a 21-metre oil "pay zone" was intersected in the well. In the analogue well brought into production in the same field, this figure was around 10 metres.
These field findings appear consistent both with FindR's prediction of "producible oil present" and with its assessment that the new well would have a higher production potential than the analogue well.
However, as the well has not yet been brought into production, the prediction regarding production volume is not yet a finalized result. When the well is brought into production, the assessment will be compared once again against the actual production data obtained.
This example demonstrates that FindR's aim is not only to answer the question "is there oil or not?" but also, when evaluated together with available analogue data, to produce predictions relating to production potential.
THE FUNDAMENTAL DIFFERENCE FINDR PRESENTS
The examples FindR has obtained to date reveal three important distinctions:
The distinction between a full and an empty reservoir.
The assessment of whether a reservoir area genuinely contains producible oil.
The distinction between oil shows and producible oil.
Demonstrating that the presence of oil shows in a well does not mean that the well will deliver economic and sustainable production.
Assessment of the reservoir boundary and the drilling point
In addition to selecting the correct reservoir, assessing where the drilling point lies within the reservoir and how close it is to the boundary.
In other words, FindR's aim is not merely to answer the question:
"Is there a reservoir?"
but to produce a prediction addressing the question:
"Does this reservoir contain producible hydrocarbons, and is this the right target for drilling?"
FINDR'S PLACE IN THE CONVENTIONAL EXPLORATION PROCESS
As a result of geological and geophysical studies spanning years, companies may be faced with dozens of potential reservoir targets.
Seismic and other conventional technologies can say:
"The potential reservoirs are here."
At the decision stage, however, the question changes:
"Which reservoir should I drill?"
It is at precisely this point that FindR is positioned.
FindR is an independent decision-making technology intended to help select the correct reservoir and the correct drilling point from among the targets emerging at the conclusion of the conventional exploration process.
NOT ONLY OIL AND NATURAL GAS
Although FindR technology is described through oil and natural gas, its field of application is not limited to these.
The same approach of the technology can also be applied in the discovery of
geothermal resources, minerals and cold water resources.
FindR's fundamental approach is therefore to assist in identifying the correct target from among numerous potential targets across different natural resources.