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Ann: Additional Elevated Gas Shows in Primary Target, page-486

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mwatts

3,458 Posts.

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25/11/22

14:54

Post #: 64991491
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Originally posted by Kiwigeo8339: ↑

Tool insurance??? That's a first for me. An operator will usually have general insurance set up to cover all non planned diversions from the plan that end up costing them significant amounts of money. Ive never worked for an operator who has taken out specific insurance to cover loss of logging tools.

If you're thinking of going into business offering tool insurance then you'd better first check the stats and be aware of how many wireline and LWD/MWD tools get lost or damaged every year. While drilling phase I wells on Bayu Undan we managed to bury just about all the available Geopilot rotary steerable tools in Australia. We lost at least 4 of the things...possibly more.

SM mentioned one of the LWD resistivity tools coming out of hole with worn hard banding. If the electrodes on the tool had been damaged IVZ probably would have ended up with a bill for repair of same.

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It did seem a bit odd to me also, was taken from the Reddit article within this thread.

Still it seems like a good concept to make money! offer insurance before use of the tool and as soon as it is down hole you can void the policy.

IVZ Price at posting: 29.5¢ Sentiment: Hold Disclosure: Held
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Last 7.1¢		Change 0.000(0.00%)		Mkt cap ! $107.6M

Open	High	Low	Value	Volume
7.1¢	7.1¢	7.1¢	$1.044K	14.71K

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No.	Vol.	Price($)
9	726693	7.1¢

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Price($)	Vol.	No.
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8	705645	0.071
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