BRU 3.66% 7.9¢ buru energy limited

Ann: Operations Update, page-248

  1. 2,672 Posts.
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    The issue with the big rig and Keiran was assuming big boy success and therefore spending like a big boy on top of eventual drill failure. It wasn't just the rig but the excessive personnel employed as though appraisal of Ungani should be done with gold plated 4wd's and free caviar. That's an exaggeration but the reality is they employed people as though full success was a given and used a very expensive rig to drill an appraisal well that failed only due to drilling in the wrong spot.

    It's not the rig's fault it was made to drill in a bad place. Hell I don't even blame Keiran. You roll the dice based on the best advice, you win some you lose some. The difference this time is we need to drill deeper targets like Rafael and we actually need a bigger rig.

    I really don't see an issue. I don't care if it's the exact same rig with the exact same people. All I care is that they drill in the right place.
 
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