On a positive note

[Libtardius Maximus]

Thanks Dr, Hession for the update and for all those that sent emails. Now we know pressure at wahoo is 50% higher than EA (by some estimates)  gas entering wellbore (upstream and seeking alpha) and 100M wasted with well being abandoned (bonk).

There you have it, what do you believe?

[Getitrt2]

I believe management on this.

[ArtM72]

I can only conclude Bonk has returned from the future with information the next Wahoo well will also cost $50 million and nothing was found.

Bonk is a treasure. I want to know where he parks his TARDIS.

[kommonsents]

There is a huge difference between the well drilling being suspended and being abandoned.

Abandoned would mean just that, the well is being abandoned, probably permanently capped.

Suspended simply means that they probably need more and different materials and perhaps some equipment to resume drilling safely to completion as others here have mentioned.

I took the PR to mean that MH/IOC was communicating good news, that Wahoo is a success so far, beyond expectations and they need to regroup to resume drilling to completion.

It's all good, IMHO.

[jft310]

Bloomberg used the word Delay . That came directly from Interoil.

[ArtM72]

It's all good, IMHO.

While I can't agree it's ALL good, I will cop to the belief that none of the information released today puts in jeapardy the string of pearls theory which is the IOC blockbuster scenario.  All that any reasoning person without a short axe to grind now needs to see to get real excited is a bunch of calcium/magnesium carbonate stone coming up from the drill bit loaded with marine fossils.

This little press release may not be all that important in the large scheme of things, but it has been an oasis in a desert of management updates.

[Getitrt2]

There is a huge difference between the well drilling being suspended and being abandoned. Abandoned would mean just that, the well is being abandoned, probably permanently capped. Suspended simply means that they probably need more and different materials and perhaps some equipment to resume drilling safely to completion as others here have mentioned. I took the PR to mean that MH/IOC was communicating good news, that Wahoo is a success so far, beyond expectations and they need to regroup to resume drilling to completion. It's all good, IMHO.

Believe it or not, I agree with you, although I would prefer less problems and uncertainty, as I'm sure you would, too!

[Thylacine-2]

It's all good, IMHO.

While I can't agree it's ALL good, I will cop to the belief that none of the information released today puts in jeapardy the string of pearls theory which is the IOC blockbuster scenario.  All that any reasoning person without a short axe to grind now needs to see to get real excited is a bunch of calcium/magnesium carbonate stone coming up from the drill bit loaded with marine fossils.

This little press release may not be all that important in the large scheme of things, but it has been an oasis in a desert of management updates.

Right, Art.  Not only does the info released not negate the string of pearls theory, it supports the theory.

And the info concerning c-1,c-2,c-3, and c-4  points towards wet gas or oil.  As Hession said, the seal is confirmed and an active kitchen is confirmed.  The PR was short and sweet, and the information released could prove to be very important in the large scheme of things.