Dismal progress over the last 3 weeks means they’ve lost all...

Dismal progress over the last 3 weeks means they’ve lost all their schedule float. They aren’t even at mechanical completion yet and from the photos on Strike’s latest presentation they still appear to be welding a couple of final bends. One hopes these are old photos, but they were supposed to have finished piping installation some time back. Their apparent reluctance to provide a comprehensive set of close up photos is also a concern. It all raises questions on the accuracy of reported progress.

They could still get to first gas by the end of Q3 if construction verification has been done properly, Mechanical Completion is genuinely imminent and they had a good commissioning team. Based on the information reported to date, I don’t hold much confidence on any of those points.