CVN 3.03% 16.0¢ carnarvon energy limited

operations update: disappoint ?, page-18

  1. 138 Posts.
    Two rigs down to one. This now does not make any sense regarding the official reason that was given for the question regarding more rigs in the fist place. The official answer was not enough capable drill rig personnel at the time to access a third rig.
    My feeling is that CVN will use freed up personnel on the CVN/SUR lease (L20/50) as soon as seismic interpretation is complete(early Feb) to begin drill campaign (subject to government drilling approval). This information would not be in the POE release as it does not pertain to them and why they will not drill L53 again until 2H 2010.
    At the AGM, the question was put to Ted, whether or not there would be any reimbursement to the fact that POE would use the rig on L53. Ted replied that it was understood that CVN would then use the rig (manpower) on L20/50 if available.
    my understanding and feeling of the situation as it presents itself. DYOR
 
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