The last paragraph pretty much sums up M1, they didn’t want well control issues from the unknown factor and went in heavy, the mud was inconsistent due to mixing problems in the tanks, and they had losses and formation damage. The side track mud weight was better but still heavy, didn’t take the losses in PA second time around but we did have differential sticking.
The pad wasn’t all weather as shown by services having to be dragged out through the mud when they left and the rig had the mast dropped and left in place.
BH were quite possibly caught on the hop by the later drill date due to rig being held up, but still doesn’t excuse some of the things that went on.
So, for M2, mud services and tanks sorted, all Weather pad and road, better organisation around spud date, wireline services sorted etc etc.
They have learned from M1 and they have taken steps to remedy the failures.
Flooding, Elections, blah blah blah, it’s all a side show, it comes down to what’s in the ground now, and we will find out in a few weeks.
This tit for tat with May holders is just cr*p, anyone with half a brain wouldn’t be worried about what a company in Cuba is doing, good luck to them as well, surely money isn’t that scarce that cage needs to keep getting rattled. It is amusing though, the blocked ones in here disjoint the threads over there to, so it’s the same dropkicks stirring sh*t that need blocking.
Just my two cents worth for a Sunday morning, Gltah.
IVZ Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
