I think that the point you made that ES-1 is drilling well with relatively few problems is very important. Several wells in the area have experienced major drilling problems. Hopefully the well will have reached the GWC and TD before the cyclone season begins (yes I know it's still some time off - hoping that the GWC is a very, very deep) and the well is successfully logged, cased and tested.
I don't think that many people realize just how extreme the hole conditions are at depth in HS-1. It's probably one of the most technically challenging wells to be drilled in Australia this year, as was the Heron-2 well (incidentally H-2 was both operated and drilled by MEO). And MEO didn't burn the rig down.
MEO Price at posting:
22.5¢ Sentiment: None Disclosure: Held
