niceone- 'two lightning strikes on the derrick in August' not October!
'Some of this damage was not readily apparent until various components were tested individually and in-situ during commissioning. Almost all of the lightning related damage to the rig electronics and mechanical systems has now been repaired and replacement parts sourced and installed, tested, commissioned and certified. Key structural, mechanical and electrical components such as the derrick and substructure, draw works and top drive, mud pumps, generators, blow out preventer (BOP) and other critical components have all been inspected, tested, commissioned and passed.'
"In addition, a comprehensive Rig Audit and Rig Acceptance Test has been conducted by an international independent global testing, inspection and certification service provider and this process is expected to be completed within 10 days. Following completion of this test, it is expected that all equipment, procedures and personnel will be certified as fit for purpose, the rig can then be accepted by GDC to begin drilling. "
A lightning strike which affected some of the instrumentation, have delayed commissioning. However we are now in the testing and certification process and expect spudding to occur shortly Now in OCTOBER there was two lightning strikes within days of each other in AUGUST The rig still not fixed but almost fixed whatever that means Feels so long ago now it was said Your Company has an exciting year ahead of it and I look forward to giving you regular updates on our progress
"Thermal sales generated good growth during the quarter from our existing customer base. Progress on the pipeline extension, discussed below, is expected to generate further sales growth in the coming quarters as additional customers are added to the network."
Victoria Oil & Gas has a 3rd quarter operational update in which it states that grid power sales in the quarter were above take or pay levels and therefore in line with expectations. After having been badly affected by a lightning strike the Logbaba rig is almost ready to go and will spud in November. The amount of pipeline construction has been most impressive, now reaching 45km and the outlook is most promising, again more after a chat with the company. http://www.proactiveinvestors.co.uk/columns/the-pay-zone/26379/flash-blog-hunting-amec-vog-hurricane-26379.html
Got us to profitability? Not until we have recouped the £200M plus he has squandered on failed projects, West Med, Kaz etc. and ridiculously extravagant salaries, bonuses, royalties and corporate expenses. How anyone can say that this man is a sucess is deluded to the extreme. There are a small band of merry men making a fortune on VOG unfortunately they are not PI's but the BoD. Scandal really.
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