KEY 0.00% 0.1¢ key petroleum limited

announcement coming , page-14

  1. 297 Posts.
    They may get away with only 5.4 million dollars. Currently my estimate is that they are up for around 4.3 million Aud to date. It may work out to 5.4 mill Aud but it will really depend on how long it takes to fish the debris out of the hole and get drilling again, what they find in the form of hydrocarbons and how long it takes to reach TD.

    As far as not paying the drilling contractor, good luck with that one. Firstly, Key are non-operator (along for the ride) and any dispute would likely have to come from the jv operator Aminex. They can likely recover a fraction of the cost of the well, but they have to be findful they want to use this rig on the next well.

    Fishing for debris from the drill bit, would likely not be attributable to the drilling contractor and would almost certainly be the responsibility of the operator, ie Aminex.

    Holding and hoping that they get drilling soon again.
 
watchlist Created with Sketch. Add KEY (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.