Presumably the "new" production well in the NE sector of the Pufifn field is a replacement for P-8 which I pointed out months ago was a dud. What I find exaspirating is no update on remedial work for P-7. Work they have been mentioning they will undertake for almost eight months! Not one word on cost or duration or anything else. Hopeless! I am starting to draw the obvious conclusion that the P-7 well is likewise unrepairable although this would contradict advice from a so far infallible source. A source I trusted in the past a lot more than management. As for reentering the SW sector I consider this to be a grave error in judgement. They had their backsides paddled last year sniffing around there and it looks like a case of throwing good money after bad. I would have preferred them to stay in the NE sector particularly NE-3 which they have been spruiking for years! The only good news is they plan to enter ther Talbot field next year. All up a most disappointing presentation in terms of what was revealed. Although after nearly 3 years I'm used to it. No doubt the mug punters will lap it all up but it goes nowhere near meeting my expectations.
AED Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
