New thread to get some discussion going about the likelihood of drilling this season. I'm sure many of you have a lot of knowledge in the oil exploration sector. Here's a few questions:
When does drilling season actually end in Mongolia?
The Mongolian summer ends late August, so a month or less to drill?
How long does it take to drill a typical on-shore well?
I've read 1 month as a rule of thumb, is that accurate?
If finance is finalised, how long would it take to contract a rig and actually get started?
I think Matad contracted a rig more than a month ago, and still haven't started drilling.
My thinking is starting to turn a bit negative at this point (for the short term), as i hold options and they expire at the start of the drilling season next year. Im thinking a drill in the ground is whats needed to put them in the money.
What do you guys think?
WOF Price at posting:
2.0¢ Sentiment: None Disclosure: Held
