On 2 December 2006 GDN announced "The rig is currently recovering a lost section of drill pipe left in the hole attached to the casing hanger above 9,150’. Recovery rates have been varied reduced due to difficulties in cutting cement within the casing and to milling the lost drill pipe section where it was wedged against the external casing. The lost section is currently free of the casing wall and is being recovered by washover pipe, at a greatly accelerated rate of up to 50’ per day."
There is no confusion in the announcement that recovery of the lost section that was "currently free" at 50' a day was underway as at 2/12/06. Assuming that the lost pipe has not become "unfree" (I'm not sure if a free drill pipe can become stuck again) and working on JH's advice that drill pipe recovery rates have increased, there can't be to many more feet to go. Other comment would be appreciated.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held