The announcements says " discussing commercial options for completing the wells on 138 and 59". That could mean three things - silver marlin may not have the cash, our management are reluctant partners now because of delays in the past, or the rig may not be available on time anymore. Silver Marlin should have drilled the wells early like gavea did with 330 and 430, and no problems would have arisen. Leaving drilling to the last minute was asking for poo. Unfortunately erh is at the mercy of silver marlin, as they are the operator and call the shots
Got a feeling management are being very careful with the joint venture now. Not committing until wells can be drilled 100% in time frame.
We have an exciting 6 months to come with many wells and production testings for both 330 and 430
ERH Price at posting:
18.2¢ Sentiment: LT Buy Disclosure: Not Held
