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Ann: Terms agreed for $153m Development Funding Package, page-187

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24/06/24

15:53

Post #: 74462569
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Originally posted by Foibles: ↑

Rig scarcity is not the issue. Plenty of them around, I was reviewing an inventory of these across Qld just last week.

Courtesy of the free for all about 10 years ago there's an abundance of these in the sunny state (it peaked in the many dozens), to the point where I believe some are even being cannibalized for parts.

or so I'm told.

the concern is that no WA explorer is prepared to commit to a viable contractual agreement. In the absence of which, no rig operator is prepared to commission a haulage company for the non trivial exercise of getting 20 rigs permitted by the NHVR to freight the kit down the guts.

i would imagine a more progressive domgas policy could have a tangible impact upon confidence and contractuals. Cookie could make the west into Swiss cheese with the flick of a pen perhaps.

or the choir could have a whip around and raise the coin to buy its own.

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Are these rigs capable of drilling wells at 4.5km depths?

STX Price at posting: 22.8¢ Sentiment: Hold Disclosure: Held
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