Hi psi81, is the overpressure likely to be throughout the entire formation? Would it be possible (and quicker) to drill an offset well within the formation somewhere where they could predict from the geology/seismic that there would not be such significant overpressure? Not sure if you have significant variations within a formation and whether the science is developed enough to try this. If we could use an available 10000 psi rated rig would this be worth a punt, or too risky in your opinion?
How long does it take to build a rig vs waiting to bring one in? Would Santos have the capacity to get one created instead of waiting a year? Also, should CTP book in the rig for the lookalike salt seal structures already identified, given the lead times?
CTP Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
