Takes 2-3 months from spud to first production. Spud has been delayed since this diagram was produced - should be happening this week. In terms of oil they are drilling smack bang in a producing oil field so high likelihood the oil is there. That is why the company are saying exploitation not exploration....exploitation in that they are extracting oil that they have a high level of confidence is there. There is a risk the drill itself get stuffed up...risk is low as these guys are experienced.
how long to drill, page-3
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