Mechanical problems with rigs invariably take weeks/months to fix, if the rig was demobilized then it must be a big fix, which means a long wait, because at this time of year spare rigs are impossible to find before the wet season strikes. Maybe not pessimistic - just realistic.
Nothing wrong with the ground, the rocks will still be there for later/next year when they do drill it, I was just pointing out that if some people were hanging around for drilling and for drill results then they might be looking at moving their money elsewhere to other companies that are still drilling. Sure it may seem a bit short term thinking but some, but not all, investors would be thinking that way.
ENR Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
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