AKK 0.00% 0.3¢ austin exploration limited

It is interesting to me also bignote. The complaints about the...

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    It is interesting to me also bignote. The complaints about the use of the word "spew" are way off target. Perhaps as someone said companies don't usually use strong terms like that. However, this wasn't a usual situation. Far from it. They lost control of the well. That obviously creates a hazard.

    Famously in 1861, the first every decent well, which flowed at 3000 barrels, was also out of control initially and escaping gases ignited killing 19 people. Now days, from my limited knowledge and chatting with a few people, its still not possible to guarantee control of a well. But there are various levels of protection once it occurs and in this case, I presume the blow out preventor was activated quite quickly.

    In terms of process, AKK certainly emphasise that the well was drilled slowly with focus on logging, measuring forces etc so it seems unlikely to me that they have done anything wrong. If they had, I doubt this would be so public anyway. So what appears to have happened is that they suddenly struck a higher level of pressure than anticipated, the mud in the hole was insufficient causing a burp of oil which was brought under control quite quickly. That would certainly suggest a flow rate well above average to me. Although the fact they then sell more stock at 1c sort of goes the other. Perhaps that train had already departed?

    Anyway, we'll find out soon hopefully, we've often been a bit surprised by delays in news flowing with AKK so I'm trying to factor that in myself.
 
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