'Indoreservoir' pid='46481' datel Wrote:
'jdeo1969' pid='46480' dateline='<a href="tel:1404796 Wrote:
'Thylacine-2' pid='46471' dateline='<a href="tel:1404785 Wrote:
'jdeo1969' pid='46463' dateline='<a href="tel:1404777 Wrote:
'Getitrt2' pid='46462' dateline='<a href="tel:1404777 Wrote:Petrengr1, Did you notice in the 7/3 RJ "Brief", they said, "It would be rather academic (and, frankly, useless) to talk about anything resembling results before the wells reach total depth and can be tested, so the market will simply need to be patient. That said, these are all multi-Tcf targets, and Raptor has liquids potential in addition to gas.". Also, I feel sure you are aware that on the Raptor slide of the May 14 presentation, and I think others, they indicated, "First test of new trend near Puri-1 oil discovery"; but my impression is that the oil flow there did not last. It seems to me that all this is relevant also to the plans to drill Puri Deep and Kereru Deep on the Raptor trend in the future, as you indicate. I know there's a hesitation to talk about oil at this point, but it's mentioned in previous presentations and apparently is coming up at roadshow presentations and meetings. Any comments you care to make on all this?
I think shareholders would be more patient as MH requested, had we not exceeded HIS target dates without anything but a "be patient speech." Anyone from IOC using the term patience should be punched in the mouth in my opinion. I've been patient, others here have been more patient than myself. Put up or shutup is where I stand, and quite firmly at this point. Where are the drilling results? That is a fair question. I wonder if anyone bothered to ask or if they just genuflected in the presence of the CEO.
Good luck longs
Jdeo
Wow, Judeo! You getting a little skiddish! Might as well settle down. We aren't going to get any drilling results until there are drilling results. That's life in the oil patch.
Not skiddish thy. I just think some micro execution would be welcome here. Mh should know life in the oil patch means you shouldn't put timelines out there to be critiqued when you miss them and don't really give any substantive reason. on a macro level, yes the changes in company policy are good imo. But there is no reason to tell us 90 days if you think there is a chance you will miss on delivering in that time frame. Is that skiddish or accurate sir? I'm no longer an apologist for this company. I have real money invested and I want the ceo to deliver what he says he will deliver is all. Does that seem like a radical thought to you?
Good luck longs
Jdeo,
I'm with you - i want some results. All we've seen from MH is a botched sell-down and announcemet which cratered the share price, and now 3 out of 3 delayed exploration wells.
This is amateur hour so far, and I'm very concerned about MH's competence. In a big company like Woodside incompetence can be hidden - not so a small company like IOC. He's going to have to deliver on promises, not wave hands.
3 out of 3 wells with problems is simply terrible luck (unlikely) or a problem with the planning/team. My guess is the team is the problem. Its not like this is a completely new basin - they've drilled some 9 wells there so they have a pile of data to help plan - somebody has really screwed up is my guess - ON ALL 3 WELLS. Simply incredible. Heads should roll, and my guess is Total is saying the same.
Lets hope they bumble through and we get some positive results.
GLTAL
Indo - Your words are very profound. To not have reached "total depth" in any of the 3 wells after this many months is extremely unusual. Well-explained reasons would go a long way to help in this waiting game,imho.Yes,we have some "words" about the 'sticky shale',but it just seems we have more problems than ever before. GLTA.