OEL 4.35% 1.2¢ otto energy limited

galoc calm weather predicted for week, page-12

  1. 80 Posts.
    Long time since I posted I know but had no news so kept my trap shut!

    I think GPC are aware of the problems as they are looking for outside help with this. My understanding is that the bolts on the lower clamp that ties the riser to the mooring have all come loose or fallen off. GPC are blaming all sorts of natural events instead of looking at the real problem, which is poor design. IMHO!

    Hopefully they will get back into production soon. But really you have to wonder whether they should not can the whole thing and contract a better system. After all they should have enough reservoir data now to be more confident on the reserves in place and recoverable.

    Cheers,

    Avi
 
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