""((I work in the industry but not in the drilling side, so enough enough to be dangerous so to speak,)""
To me, that part says it all.
An lot of nothing but only saying that it is very costly to drill a well.
Well, and to begin with we are an O&G company and that is what we are here for. Are we not.??
Secondly we are not requiring a full drilling rig here in Australia. What we are looking for is for a platform suitable to handle that kind of pressure and to be fitted onto the rig we had drilling there before. And they are quickly available if one is willing to look for them. That will not cost what you stated but only a fraction of it. Most importantly I posted as such and the availability of them well before this and soon after we were been told of the high pressure.
Thirdly and more importantly, well my friends and to the person who wrote that post, are we going to find another well with that kind of pressure or was it that that pressure could have just been caused by a small pocket. I posted as such before too and even the one nwith the experience evryone here think he/she had , had to agree with me.
For the records, I received that information not from some would if they could be dreamers or from someone who is saying that he works in the industry, but by two highly qualified Petroleum Engineers in the USA which handle these issues/problems on a daily basis. And that is the difference herein.
Fourthly, and as stated before, we are an O&G company which is supposed to be drilling and looking for O&G and IMO it is useless in any ways or form to have the money in the Bank to the amount they have been telling us (Which is greatly more than the costs you have told us even if we were to bring adrilling rig straight form the Sates, WHICH WE ARE NOT), while just looking at it sitting in the Bank. Who is going to benefit from that.?...Is it the shareholders, or all of the ones collecting their monthly cheques while working in there.
What we need here is a person and a BOD's with balls, (very big balls and/or balls of steel like that famous Moderator used to call them) and to make the call to improve our situation. Many other companies have them and they are drilling and proving/increasing their resources on a constant basis even though they are going through the stages of the Covid19 and to continue trying to increase their end resources. That is what an O&G company should do......PERIOD........................AMEN..!!!
This is not cfross promoting in any ways or form. Just telling you to have a good look around and to see what other O&G companies are doing. Just look at Strike Energy to pick one and then come back to me.
In closing, and as they say in the bean counters World.................................... You have to spend money to make money. Money will not increase in value by keeping it in the Bank or under the mattress, it won't grow, it has to be spent and shared around to make a return on it, and, funnily enough you are following that procedure yourself by investing it in the sharemarket...................... and hoping/praying....................AMEN.!!!!
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