MAY 6.67% 3.2¢ melbana energy limited

Ann: Zapato-1ST Drilling Update, page-257

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  1. 3,621 Posts.
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    So whats happened?

    - We had an Ann to say we were 8meters away from the estimated depth at which they would enter Zapato.
    - Next we have severe weather warnings in Cuba and the area in which the well is.
    - Bottom line is, if you read between the lines and whats going on, they've stopped drilling 8 meters before entering the well so that the storm can pass before they enter the well.

    You wouldn't want to enter a well during a storm, especially if you strongly believe there is oil in it. Leave it uncovered until the storm passes and then when its over, drill 8 meters deeper and watch the oil flow and the SP rise to 10-12c on Open.
 
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