i now support acquisition of nse by buru, page-5

Kozzie

I told that Nicolay-1 well was succesful in terms of confirming the Thermal Maturity Model which is very important. I was never expecting a free flow in that well either.

It is true that failure was about the coring which was started at the wrong depth and NSE had to spend more money to get the side coring program done. The good result was taking at the end but the failure was about wasting money.

If you complete a job at any price by going very much over the budget, that's not a technical failure but an economcial failure.

The reason they did the wrong coring because they didn't use the Loggin While Drilling (LWD) tool. You can see that they were promoting on the NSE anns. before drilling of GB-1 well that they were going to use LWD tool in GB-1. I am not sure why they were not aware of using the LWD tool in Nicolay-1 well and wasted money.

I sent my concerns about this tech. management to Sam Willis right after the Nicolay-1 well by an email.