Originally posted by Ya
Coopy
re: holding back et al
They need conclusive proof of HC's recovered to surface from the MDT tool. That info alongwith the pressure drawdown & lithology interp from the gamma & other logging tools is what considered sufficient to make a decision to the relevant bourse. Note in this stoneage, one receives realtime data stream. Final log results & interp's r then made. It requires a person of particular skillset to decipher the squiggly lines & what each logging-suite result means.
I doubt if any layman could walk in & probably read the 'depth' of the well, if they know where to read that info in the first place.
But the rest of the info, ie whether the LWD tools & GC picked up any gas readouts whilst drilling or if gamma ray tool picked up any sands & the Res went bats over a certain interval that recovered some HC from a tool requires inputs from authorized personnel. Sometimes its better to wait rather then jump up about 1.9m of oil bearing sand intersected & follow it up with a P&A update.
CN wasn't keen on the company releasing Operative updates & she quoted Neon's result in Vietnam a few moons back, when gas was reported to the ASX & the DST showed it was all CO2, not even Methane. That perhaps is one instance on the ASX, other then the typical no HC's recovered from DST or water bearing formation intersected that has an effect on the SP.
Whilst it is frustrating not to get an Operative milestone release (eg reached 9" casing point at 2xxx metres, wait on cement or conducting BOP pressure tests, ran out of timtams, stik magz or peanut butter etc etc), one could understand their predicament, b'coz during Fan-1 there were enough 'mechanical' drama's that could have been interpreted the wrong way by Mr Market not that the SP was flying high at that juncture, but still.
So yeah just keep an eye on MTrffc as that shows what the supply boats r cruising up & down for (eg Horizon back to the rig & then returning to Dakar etc etc) & any odd tweet or two. I guess FAR will report when they r ready with something material to report.
Ya,
Voice of reason!
MMM
(20min delay)