"At 06:00hrs on Thursday 4th October the Nicolay #1 well had reached a total measured depth of 2,728m in 8.5” hole .....in the Bongabinni formation..... During the past week the 9 5/8” casing has been successfully run into the hole and cemented in place. The 9 5/8” casing and cement were pressure tested successfully. To ensure adequate well control measures are in place during the 8.5” drilling and upcoming coring sections, the rig BOP was pressure tested and a formation integrity test successfully performed facilitating the .....recommencement of drilling in 8.5” hole through the Bongabinni....."
From reading the announcements exert above, i interpret as at 4/10 we had finalised rig testing mid Bongabinni and were getting to set to drill and log through what i would assume to be the lower Bongabinni. the meaning i take from this is at the last announcement we were about to start drilling into our secondary target but had not yet enetered the region of the formation we were interested in.
What is your take?
NSE Price at posting:
46.0¢ Sentiment: LT Buy Disclosure: Held