Not wishing to sound patronising , however Suggest you just google a basic 101 hydrocarbon drilling practise and equipment required ....
Using Cheap slim hole mining coring rigs to drill for hydrocarbons will not be found,
Completely different ball game and far more expensive kit required, also environmental issues
In this part if the world come into play .
Drilling programme will be in place for Cuba by latest Q1 17, hopefully earlier.
I expect significant increased reserve upgrades from both upper and tertiary plays.., a 2-4 well drilling programme and news on downstream studies ...
Cuba block 9 will be real drilling requirements, with multiple potential hydrocarbon sections to drill through.
The rig will be a 1500 to 2000 hp unit, with a modern top drive system, modern mud system , modern pumps and generation system and either a 5 k or 10 k bop ...
There will be significant coring and logging requirements for the first 2 wells which will increase cost.
I however fully expect to be heavily partnered for these drills with zero or minimal costs to MEO.
We own 100% , so scope for partnership or farm out is massive and even the very smallest exposure would be transformational to MEO.
MEO Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
