06-19-2012, 12:51 AM
First, a big thanks to Tusker for the Thursday nite gathering at the Spinnaker. It is a privilege to join such a fine group of fellow shareholders.
I picked up one comment at the AGM that I have not seen mentioned yet.
It is possible that the rig will have to be moved off of T2 before testing of the lower zone is complete. The Company is well aware of their drilling obligations on the other PRL's. The exact comment I heard was "Preserving our licenses is priority one". Factors in play include how long it takes to set casing and finish the testing, as well as how soon partners can mobilize additional rigs at other drill sites.
I mention this because if it does become necessary to move the rig without finishing T2 testing, bashers will try to spin it as a big negative, when nothing could be further from the truth.
I picked up one comment at the AGM that I have not seen mentioned yet.
It is possible that the rig will have to be moved off of T2 before testing of the lower zone is complete. The Company is well aware of their drilling obligations on the other PRL's. The exact comment I heard was "Preserving our licenses is priority one". Factors in play include how long it takes to set casing and finish the testing, as well as how soon partners can mobilize additional rigs at other drill sites.
I mention this because if it does become necessary to move the rig without finishing T2 testing, bashers will try to spin it as a big negative, when nothing could be further from the truth.