(11-05-2015, 02:25 PM)Stavros Wrote: Current Drilling Report as of October 31 - - - Depth = 1,950 meters Previous Drilling Report as of September 30 - - - Depth = 1,940 meters http://www.oilsearch.com/Media/docs/1510...7eca-0.pdf So what was the progress?? It seems were able to achieve "barrier integrity in the well at the top of the reservoir" and seemingly drill down an additional 10 meters. People I know in the industry told me this would have taken a few days in Texas. Doing it in PNG jungles/mountains is either (in general) more time-consuming, or the folks don't know how to do the job properly. I hope that all safety issues are now addressed. If that's the case, and they can drill at a rate of about 30 meters per day, they can reach the "planned total depth" in 10-15 days from now. NOOS, Palm will be a rich son of a gun.
Not to be a Nattering Nabob of Negativity, but, if you read the news release carefully:
1) They do NOT say that they have achieved "barrier integrity" at 10/31/15 - only that they were focused on that. They are running the 5" liner - maybe that tells us they were successful ?!?! I don't know 
2) They do NOT say that they are currently drilling ahead. They were running the 5" liner. Drilling is their "forward plan". Yes the number is 10 meters more than InterOil's depth - but, this could be 'rounding' or using a different reference point. You will note that their comment about hitting the top of the reservoir higher is a slightly different number than InterOil's.
BTW, you would think that with the porous reservoir that they will be drilling through, they could make a lot more than 30 meters per day !!!! We'll see....