Some times cheap translates to miserable... no data, or worst, a mess of conflicting and confusing snippets of information that lead to the inevitable drilling of a second dry hole...eg Sally May-1 and -2.
WMC used a similar rig to dril a bunch of wells in the Canning in the 80's, but they were essentially drilling for science. They cut a lot of core, and collected a lot of crappy well logs, but they did advance the knowledge of the basin.
Why not shoot some 3-D seismic before drilling... the seismic coverage east of Blina is essentially non existent
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