last roll of the dice ?

Tindaloo looks like a bit of a dying Swan at the moment.

To my mind they only really have one option left.

1. PLT log to establish where the water is coming from. If it is fractures in the sidetrack that would suggest walk away.

2. If it is at the milled window that suggests an unsuccessful squeeze, I wouldn't waste time and money on another go.

3. If the logging shows water is from the original wellbore Sidetrack out of the 9 5/8" (as should have been done in the 1st place) as this is set above the reservoir. Maybe do a CBL just in case?

4. If the rock is strong enough at the window the well could be completed with a slotted liner and blank pipe above that back into the 9 5/8" window.

5. Flow 20 kBOPD! Simple !

This should be a sub 2 week operation.

The JV needs to be strong and act decisively, KIK announcement confirmed that T1 is now sub economic, every day wasted is more money down the drain.

The problem with Yakal is that T1 is much bigger that's why they went there 1st.

Amazed NDO has held up so well this morning. Still think it will go lower. If I was a potential farm in for Gindarra I'd be sitting on my hands and waiting to see what happens, my negotiating position would seem to be getting better by the day...

I'm out at the moment also waiting to see what will happen. Hope they get this sorted as it would be a real shame for the NDO not to see the potential of Gindarra realised by poor farm in terms / low ball T/O offer.

cheers,

Oilman