Couldn't agree more happy, however, if things were going swimmingly I reckon they would have updated us. If there are in fact problems (Bones' info has been good before, thanks for that) then they would go quiet for a little while, try to sort it out, avoid making a negative ann. Would be true to form.
I had my cousin from WA visit last week. He had done some work in oil and gas drilling. Not a qualified driller but was working in a support role and had spent long hours talking to drillers. I was showing him the company, trying to get some fresh eyes on it and his main question was 'Have you seen it in action?' 'Show me a photo of it in action.' I couldn't find one.
The other point he made was that 'Things always go wrong, break etc in drilling so how well are they set up with back up parts etc if anything goes wrong?' I was like, well, we can manufacture it ourselves, but of course, its more complex than that.
If the drill itself loads on to one low loader and the total mobilisation needs are 25 trailer loads, this 'anciliary equipment' would seem to be the vast majority of the total kit. Apart from drill bits, if something breaks, its most likely to be from the 20 odd other trailer loads than from the actual rig. Seems logical to me.
I don't mind that we are spending money hiring this consultant for the anciliary equipment. Our cash position is ok and we need to execute a couple more jobs successfully. The importance and complexity of the anciliary equipment has been understated in the past in my opinion.
CKK Price at posting:
5.5¢ Sentiment: LT Buy Disclosure: Held
