Well I don't know how to start. First if they have the drill pipe cemented in they may cut and retrieve twenty feet on a good day, wash pipe is very thin, it has to go in side the Casing, and over the Drill pipe, wash over work is very slow, if you rush it you have more than one fish in the well. Now if this well is a duster, would you as a Bank lend a inexperienced new kid on the block the money, for a second well??? John if the wire line contractor is taking more than two days to come back with the results, I would say it is time to look around at how long it takes on other rigs. Now this I don't understand, John said that they have no Environmental opposition to the pipe line, because of a court case they won, in 2002 for the Seismic Interpretation. Seismic and a pipe line is not the same ball game. He then said it is not Environmental sensitive, this is not what he said at the AGM. Next they won the Court case in 2002, he said it only takes two to three months to get the paper work to drill, what was the hold up?? Next the type of bits they are drilling with, on the rig you have what we call hands, every hand on the rig knows what type of bit they are running, on all of the US rigs the hands don't live on the rig, they travel from there own home. As they live in the local town most of them have worked on all the other drilling that has happened around them. The bit about being Secretive is not on. Finally they are worried about other companies finding out what they are doing, It would not surprise me if they know more than we do. You have all the contractors coming on site, they all know whats going on. The one thing they some times don't release is the total flow rates.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
