From the 13April2016 announcement This operation has taken longer than expected due to losses of completion brine to the formation during the perforating and completion programme.
From 19April2016 announcement. High water production attributed to poor cement integrity due to shale wash-outs during drilling
Can someone from EGO's board actually do the correct thing and provide some information as to what is going on. Which of the above two extracts from 2 different announcments is correct? My interpretation is that during the week before 13April brine was leaking from the well into the formation yet water was flowing into the well sometime in the period between that date and the 19April.
Something is not right here in EGO's announcements. Please board tell the market EXACTLY what the status of the RGN-1 well is. It appears to be a complete stuff up both in the announcements and the situation at the RGN-1 site.
EGO Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held