RNE 0.00% 0.6¢ renu energy limited

geojac,just a couple of comments, your guesses are as good as...

  1. 286 Posts.
    geojac,
    just a couple of comments, your guesses are as good as anyones right now. The rig they would have in mind I imagine would be similar to what they used before, ie quite capable.
    They basically have 2 options, one is to re-enter the current well and drill another side track, the last time they did that it took 20 something days, or they drill a new hole, say 12 1/4" to just inside the granite, set 9 5/8 in casing (thats OD, about 8.6" ID), and drill an 8 1/2" hole. It will cost a lot more but the risks are a lot less.
    The cash burn rate must slow down considerably now, as the last drilling operation I guess was about 75-100k per day.



 
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