I collated this info from the PTR/Beach weekly drilling updates for Paralana-2:
30/06/2009 - ann: drilling begins on 4km Paralana-2 injector well (programmed to take 60 days)
01/07/2009 - spudded on 30/06/2009 - drilling ahead - depth 189m - progress 189m 08/07/2009 - drilling ahead in the Maree Formation - depth 480m - progress 291m 15/07/2009 - preparing to run in hole with new bottom-hole assembly - depth 709m - progress 418m 22/07/2009 - drilling ahead - depth 796m - progress 87m 29/07/2009 - drilling ahead - depth 1069m - progress 273m 05/08/2009 - installing blowout preventers prior to drilling ahead - depth 1116m - progress 47m 12/08/2009 - drilling ahead in the Erudina Formation - depth 1427m - progress 311m 19/08/2009 - drilling ahead in the Brachina Formation - depth 1720m - progress 293m 26/08/2009 - drilling ahead in the Brachina Formation - depth 1947m - progress 227m 02/09/2009 - drilling ahead in the Brachina Formation - depth 2100m - progress 150m 09/09/2009 - cementing 9 5/8inch casing - depth 2253m - progress 153m
On 14/08/09 PTR announced drilling was originally expected to take 2-3 months but was now scheduled to take 3-4 months.
I note the original 60 days equates to 2 months rather than 3 months, but now 4 months is mentioned.
On 17/08/2009 PAX announced they had been advised the drill will be delayed by "one month or more" and "look forward to commencing the drilling of Salamander-1 sometime during October".
Given the above, can anyone offer some insight into when we are likely to see the drill actually coming up the road?
Also a question on references to PTR drilling a follow up well. The quoted timelines would appear to suggest that PAX will get access to the drill immediately after the Par-2 injector well is completed. Is this correct?
PAX Price at posting:
18.1¢ Sentiment: Buy Disclosure: Held
