CTP 0.00% 5.4¢ central petroleum limited

new - announcement out, page-90

  1. 6,334 Posts.
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    Well I for one am hardly Surprised.

    All three of these wells have been disasters, but at least the last two were only drilling incidents, not HSE incidents.

    This is a SERIOUS incident and I don't think they'll be back up in 7 days, even if the mast is not damaged. If the mast is damaged they will be out of action for weeks and probably months and they will probably abandon the well.

    They are going to need to mobilise a large crane to site to get the stands out.

    And then there's the regulators getting involved. Last time something like this happened on one of my JV rigs it was shut down for a month and that didn't even involve structural damage.

    As for not announcing the incident or going into a halt - that is absolutely inexcusable. I understand JH had more pressing issues (like the safety of crews) but it took more than 24 hours to get the announcement out.

    The last faint thread of faith I had in management of this company is now twisted around the mast at a 30 degree angle.
 
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