Let's hope it is not bad news but I have forebodings that will be bad news . Strange to mention the casing in this Announcement and I fear it is stuck in the well bore before it got to the required depth . The delay may be to give them enough time to try to free it or if it cannot be freed to decide on the next step to take .
Anyway no trading until we know for sure what is happening . I always said that BYE would not drill this well until they had run out of better prospects to drill and that this well had operational risks . Because of their financial position and the disappointments on their other project they have rolled the dice on this well in spite of the operational risks . I doubt that the small high pressure sand was predictable but BYE seems very unlucky , all of their drills seem to have an operational problem or two .
Lets hope the Announcement on Wednesday is good news and my forebodings are just the paranoia built up from being a shareholder here .
OEL Price at posting:
1.1¢ Sentiment: None Disclosure: Held
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