Positives? Lets see
Defender- It's an appraisal / development well right. What we learn now will save us millions later. Gas sits on top of oil which sits on top of water so it seems that with plenty of gas, this well has been drilled in the right place. At least the pump valves arn't cloging up with salt !!!!!
Australia II - no need for spin here. Pencli in mechanical failure, which sounds routine. My only concern is that well performance isn't comprised.
Gretel II - fracture in 2 weeks , nothing bad there
Other stuff - permitting another well west of Defender and where in bed with Continential Resources.
Not the greatest announcement but it could have been a lot worse. Just have to go with it guys. Long term position unchanged.
OMR
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