KAR 1.32% $1.87 karoon energy ltd

progress report nr 18, page-6

  1. Ya
    6,809 Posts.
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    One could call the company directly for an update & see what they have to say or wait for an update to the market.

    IMO, fishing operations shouldn't have taken long unless things got trickier.

    Remember, that its a 6" diameter hole & if the fish (i.e. logging tool) is jammed up pretty tight in the hole & cant b retrieved easily, then an Operator could take some time in retrieving the logging tool.

    IMO, they can't just walk away from a 216m+ mountain of gas, albiet they will have to quickly come up with a Plan B.

    Plan A, however will b to retrieve the fish, clean the hole & then re-run the tool. Too much at stake, to warrant a walk-out, IMO!! Late last year, Santos had a similar sort of situation at their Ichyths North well with tight spots & well control, took them a while, but they did complete the well, not walk away from it.

    The delay is unnecessary but nothing can b done, considering they haven't collected sufficient data for this 524m of open hole (4588-5112m) & that the fish is stuck in the bottom part of that thick sandy unit of 139m+ thickness.

    An update to the market, will lay to rest any conspiracy theories, for the time being.

 
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