What a fine cracking pace this is: drilling and casing about 1000m per week! I suspect that not only is PAX trying to make up for lost time but is demonstrating that the capital cost of wells in permeable sandstones will be significantly less than those in hard rock. (Rig costs are charged on a daily basis.) This would affect the overall project economics considerably. BdeG has at various times given time framework diagrams as well as energy cost estimates. If these figures can be achieved the credibility of HSA energy generation in Australia should soar. The whole sector needs this at the moment.
Juke
PAX Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held