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SUITE 6 LEVEL 1 19 LANG PARADE PO BOX 2046 MILTON QUEENSLAND 4064 AUSTRALIA
TEL +61 7 3721 7500 FAX +61 7 3721 7599 EMAIL [email protected]
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ABN 55 095 006 090
ASX ANNOUNCEMENT 6 NOVEMBER 2007
Habanero 3 Drilling Progress
Geodynamics wishes to advise progress on modifying the bottom hole assembly
and resuming drilling.
The Company advised in its last up-date that it had been experiencing vibrations
in the drill string, assessed as being due to bending of some of the drill collars
(heavy sections of 9 metre drill pipe that provide weight to the drill bit) that sit
immediately above the drill bit. It was considered prudent to suspend drilling until
any bent drill collars were straightened and potentially fatigued threads remachined.
This has involved:
• Sending some drill collars to Moomba to have their threads re-machined.
Although it was expected that this would take only around 10 days, it has
taken longer, exacerbated by rain and road closure. However, the work has
been completed and all of these drill collars are now back on site, with the final
components having arrived earlier today.
• Sending the bent drill collars to Perth for straightening. While this is not critical
to the resumption of drilling, this work is 50% complete and once completed
the collars will be sent to Adelaide to have their threads re-machined.
The Company has an inspector on-site carrying out the final quality assurance
checks. The standard procedure with all new threads is to “make and break” each
coupling three times to work-harden the threads before they are put into service.
The drill collars will then be made up into a new bottom hole assembly and run
back into the hole to resume drilling. Geodynamics’ is planning to include a
vibration sensor with the bottom hole assembly to enable monitoring of any future
vibrations and assist the fine-tuning of the bottom hole assembly.
It is anticipated that drilling will resume by Thursday this week.
For further information please check our website (www.geodynamics.com.au) or
contact Mr Gerry Grove-White or Paul Frederiks on + 61 7 3721 7500.
Gerry Grove-White
Managing Director