They indicated that spudding the well would probably occur on 12/10 but they got a wriggle on and it spudded ay 1430hours WST on 11/10. That's good.
I am personally not phased about the lack of coal in the shallower sections as for one thing the priority is oil and the other is that by coring it takes more time; something that OBL does not have a great deal of. Possibly why they indicated that on their announcement 11/10.
If I was in their position, I would keep as much time up my sleeve in case of any delays which may arise, such as accidents/ breakdowns (heaven forbid) slower going through harder formations or whatever.
Who knows what they will come up with as they drill through the different horizons. With the depth already reached today, by the end of tomorrow should see them cement and set the BOP. which will create a delay to allow the cement to dry before continuing.
So my take is that the Co. is doing the right thing by reducing any unnecessary delay and getting on with the job.
Imo, good to see.
OBL Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
