PAX 0.00% 1.2¢ panax geothermal limited

This is real drilling! More than a quarter of the way to TD in...

  1. 1,225 Posts.

    This is real drilling! More than a quarter of the way to TD in about a week. It took five weeks for PAR2 to get to the same depth, admittedly in hard conditions. In sandstone it works so well.

    The rate of progress normally slows down with depth because of increasing hardness of rocks and the increasing cycle time for pulling up the string to replace bits. If no hard rocks are encountered then bits don't need replacing as often. This explains the speed with which the old oil and gas wells in the same tenement were achieved. Your figure of completion in 30 days is quite possible. I estimated 35 days before commencement but stated 45 in a previous post to allow for eventualities. They will have to do thorough testing of course for the first two wells but just imagine how fast progress they could make later with non-stop array (splayed) drilling and with no fraccing required for HSA wells.

    Juke
 
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