devil's advocate, page-34

Guys,

you all think too much or try to second guess every thing.

again here is announcement from the 6th Dec. Note Holding up drilling ship for production testing is a very expensive exercise. My guess if the well flowed nothing or insufficient quantities they JV will want to release the ship ASAP. from 6th to now is long time meaning either one of two things

1) They are experiencing another Hurricane which is very local to the Drilling vessel and not in the news. ( just thought I'd inject no pun intended some slight humor)
2) They are taking their time to get all the results they need to confirm the discovery is either commercial, not enough data to confirm it is commercial or confirm not commercial.

Note not enough data means another drill or drill(s) maybe required.

Based on length of time past and costs above i'd say the options are most likely,
Commercial or more data needed to confirm commercial.

What is also interesting is based on logging while drilling data they know one zone has poor permeability and they have written it off in this location.

What that tells me is they must already know the other 4 zones have better permeability than that one zone ( and remember there was gas kick so that does confirm it to some extent)

Now I have no idea what the outcome will be but technically we have 4 zones which have better reservoir characteristics than one zone and a gross vertical extent of gas in these zone is 150 m. I'd say there is reasonably good chance that all or 1 of these zone will flow.

So after 1 week of wire line logging and two weeks+ of testing I'm guessing that they have some much to flow test starting from bottom up it that it has kept them busier than what they imagined. Usually one zone say 30m high I'm guessing when they shoot holes in the Production liner to let the liquids( gas) flow in they may need to do it in multiple locations in-between the layers

here is 1st couple paragraphs once again read it if you start to worry.

Based on gas shows and initial evaluation of
Logging-While-Drilling (LWD) data, one additional
zone of interest has been encountered; at the
4.7Ma level. This brings the total number of zones
of interest to four. A fifth level (5.5Ma) exhibited
gas shows within a poor quality reservoir that may
have potential for improved reservoir
characteristics elsewhere.
The four reservoirs (4.1Ma, 4.2Ma, 4.5Ma & 4.7Ma)
exhibit good indications of gas over a total gross
interval of approximately 150 metres. While it
would be premature to comment on the potential
size of the Cua Lo resource, it is certainly well
within the range of pre-drill estimates as previously
reported by the Company

If you had a plan, stick to the plan.