05-03-2015, 12:55 AM
(This post was last modified: 05-03-2015, 12:57 AM by johnwgrant.)
Credit to ArtM72 at Investor Village! http://www.newswire.ca/en/story/1528901/...ock-in-png "High Arctic is also pleased to announce that Rig 115 has recently arrived in PNG and is currently being mobilized to the first drilling location in PNG. The rig is on a reduced moving rate during the mobilization period which began mid March, and will go on full operating rate once it is ready to spud the first well. The two year contract term, with anticipated annualized revenue of US$30 million, will begin on spud which is targeted to occur mid May."