Spud?, page-21

Of course it's a cost to the client! The JV may not have started paying the daily rig hire rate yet, I don't know about that, but the US$25m mobilisation cost mentioned in the Fleet Status Report is charged to the client as would, I assume, any cost overrun in respect of it (though maybe that would be negotiable depending on contract terms) . Also, unless the delay can be reclaimed, there is the added costs in respect of all the ancillary matters pertaining to the drill such as:- rig crew wages, support vessel hire and crew wages, etc. etc the list goes on. Every day costs money!

But it is what it is, and we will just have to wait until CVN announces spud, or announces progression which would clearly indicate that spud has already occurred.

Don't forget, it was CVN, presumably on advice of Q, that gave the time frame of around 5 days between rig arrival and spud. Here we are at double that time (10 days) still waiting to find out whether the drill has begun or not! Mushrooms come to mind!