lies, lies and more lies

You only have to read the announcement before xmas to know they where lying to us. Generating revenue?????????



Safe and Steady

Coretrack records steady revenue and achieves 31 days without incident 19 DECEMBER 2011

Coretrack Limited (ASX code: CKK) achieved an important milestone in safe commercial operation by operating the GT3000 deep hole drilling rig at Newcrest, Telfer, for 31 days, without incident.
Coretrack’s CEO, Mr Bernie Kelly, and Drilling Services Manager, Mr Jason Maynard, recently attended the Telfer site to meet with Coretrack personnel and Newcrest management to discuss onsite operations, including safety and the New Year forward plan after the Christmas shutdown.
“The GT3000 rig has been steadily generating revenue since mid November and we expect this daily rig revenue to alter significantly when we move to 24 hour shifts and implement the lessons learned from the first hole.”
“Senior Coretrack management will continue to be onsite as we ramp up operations to 24 hour cover on the 5th of January and we are still on track to generate the predicted revenue by the end of Q1 2012. Continued management commitment is needed to ensure flawless delivery and continued safety performance. “
“The Telfer mineral contract has been a great opportunity for us to shake down the new rig and for our crews to become familiar with it ahead of mobilising to the oil/gas industry.”
“Whilst the rig is earning revenue at Telfer, our in-house oil and gas specialists are busy preparing the operation for oil and gas contracts with all ancillary equipment currently being procured/manufactured either overseas or in-house. “
“We are also in negotiations with a number of oil and gas exploration companies to mobilise after safe rig commissioning for oil and gas operations; some of these exploration companies have multiple well programs”; said Mr Kelly.