It appears that Slumberge'(dont know if spelt correct?) have been called in to assist with the repair process. Nothing to worry about apparently, they have knowledge/access to the more heavy duty equipment and processes. The leak area has had a bonding substance applied to the walls of the casing and I beleive they can isolate and pressure test (2000psi?) the success of the repair. If repair is unsucessful then the area can be capped and bypassed if necessary however there was no indication that the repair wouldnt work. The temperature down there is 300+ degerees, so I beleive the bond dries pretty quickly. They are also testing every 1000ft of the 7 inch casing for any similar problems just to be sure. At this stage no change in whats down there, just trying to ensure the case is ready for perforation, which I think will be towards end of the week by the detail of repair work be carried out. Hopefully ann comes out confirming this status shortly. As of yesterday I believe they are still within budget. However I reckon the aussie dollar has helped that cause
This is my opinion only, but you can see alot of time and effort is being spent on ensuring the integrity on the casing. I know I wouldnt spend the bucks if I didnt think there was something down there.
If you dont ask you dont get. Maybe others should attempt to contact mgt so we can be informed as best as possible.
PYM Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
