MAY 0.00% 4.9¢ melbana energy limited

G'day CurioI'm sure the current rig has enough HP to drill to...

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    G'day Curio
    I'm sure the current rig has enough HP to drill to depth safely as we have already seen.
    The problem was with the engineering of the current well design through to the BOP
    We did upsize the BOP to 10k psi some months ago but fortunately/unfortunately we hit the safely margins again in the lower Marti section (great problem to have)
    I'm tipping we won't get back down to depth for for a year or two, I'm very confident that the uppersheet and lower resivour's will give us all the production we need at a much lower drill cost
    The lower at depth resivour's at Marti and beyond will give us the "reserves in place" which every exploration/production company is built/valued around
    We may need to drill it to book against, but I recall AP alluded that we may not, we'll wait and see.



 
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