Have now spoken to people on the ground and they have indicated that this type of leak is normal for these type of re-entry plays. Nothing has changed in terms of the potential of this hole. Following initial pressure tests of casing which I presume is part of the whole process??, they identified the leak and are now in the process of repairing. Hence the delay. The operator is ensuring the integrity of the casing prior to commencing actual perforating & flow and pressure testing. It is apparently a minor leak, and is normal, and is to be expected of a hole approx 30 years old. Once repairs are complete, it will be business as usual, planned for next week. Lets hope no more delay??
Remember....apparently there are close utilities nearby to service this well if it comes up trumps. There is a sealed road about 75m from the hole, and a direct sales line a few hundred feet away. Also a second Atocha location is apparently planned nearby. I'm assuming they are confident of this whole Tuscaloosa region?? Lets hope so!
PYM Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
