I suppose they are being very careful and cautious, they certainly dont want to have to issue an RNS in the middle of March saying "Sorry for the delay" after all these months 14 days is not a lot to wait, its a lot less than MXP, I also think that the oil will be in several places hence the plan to drill more deep wells, on the whole I am still confident and even if tis first one is dry we have loads to look forward to
Thanks for your comments I was aware of the delay but if you go back through the rns I can't understsnd why they say end of march, when the if you work out timing taking into delays leads to max middle of march. also roxy in the past have not a good record re rns's prior to full results and with a major benefactor I suppose they have to extra carefull, all in all if this comes in with 1000 plus barrels a day then it shoud at least touch 15p, on listening to clives presentation in 2012 it looks like the oil could be in few areas of the bng acreage not one.
Hi mate, the delays were due to permitting problems .... Since the last operational update, Roxi has experienced a number of unexpected delays principally in respect to permitting. In particular it has taken longer than expected to determine and fulfill the precise requirements of the various regulatory authorities over such issues as the operating capabilities of blow-out preventers. Drilling has recently resumed and Roxi now expects to reach total depth by the end of the first quarter of 2014.
The deep well was spudded in july, by nov reached 3000m they said news early new year, then rns beginning jan due to tech problems well held up recemtly restarted results end of march, now there is somthing slightly wrong here, one minute it was going to be probably 9 weeks to go and then 12 weeks, does our 209k buyer know something that we dont, and results could be next week ?
Yes indeed but this has been going on for an eternity and we never seem to get to the nub of it, whats down there. There are holders who've been in this far longer than me (you may be one) and they will tell you the same.
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