You guys should understand - the current section of the hole is only unstable because it has not been cased. It was left open so it could conduct tests.
The original section beyond 3,000 was unstable because it was left for too long. So ST1 was drilled.
But now, ST1 is unstable according to the company.
They can finish the job by drilling ST 2. And it would cost only an extra few millions.
But starting a new hole from the surface to 3,000 metres, requires months of planning and 2 months of drilling. It would cost circa $20m plus.
So its cost effective to finish the job at ST2 than to start M 2 (assuming gas contents coming out of the structure is excellent)?!?
IVZ Price at posting:
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