I've read this announcement and tried to understand the problem. The way I interpreted the info was that the steel casing design is insufficient.
Going forward GDY will need to evaluate the existing wells and probably apply a fix for each? I suspect that future wells will need different casings.
Net result, even more delays.
So why was the share price up yesterday?
Butchy.
Ann: Habanero 3 Well Incident Investigation , page-2
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