Anyone else getting a bit nervous on the lack of updates from T3H?
Well was meant to reach TD by end of Oct. We are now in the last week of October and no update. Build section was completed on the 6th of Oct. If no release this week, would in my opinion indicate to me there could be issues in the lateral section.... Either that or very very slow drilling. 1000m lateral shouldn't take 25 days+ to drill and case.
T3H well spudded 23rd August. End of week will mark the 70 day mark for this well. Added to the 100+ day T2H we have a grand total of 170 days + drilling for 2 laterals. That's some serious cash burn in the drilling component given the remoteness and size of the rig.
With the Tamboran quarterly due out very soon the cash burn for the last 3 months will be interesting to see...might give a good indication of when Tamboran might need to Capital Raise
With expensive stimulation to come (potentially into the northern Aussie wet season), could make for some interesting cash management issues for Riddle and Tamboran
DYOR
TBN Price at posting:
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