IMO, must be getting nearer to news on MUR-1, see below:
As a part of the work programme specified for the two-year appraisal extension, Max Petroleum has been granted permission to complete the drilling of NUR-1 on the Emba B prospect and, if it is successful, to drill the Kurzhem well on the Emba A prospect.Â The Emba A and B prospects have a combined unrisked mean resource potential of approximately 1.1 billion barrels of oil equivalent and are part of a much larger potential trend of similar prospects. As a part of the review of the results of NUR-1, the Ministry of Oil and Gas of the Republic of Kazakhstan recommended the Group organise a â€œTechnical Roundtableâ€ with experts in deep drilling including other operators in the area to evaluate the problems at NUR-1 and consider possible ways forward.Â A series of meetings were held with the experts and a protocol was issued, with the general conclusion that with certain modifications to the existing well design there is no technical reason the well cannot successfully be re-entered and drilled to the objective depth of 7,250 metres.Â After the completion of the Technical Roundtable, the Group began to work with Halliburton, a company with experience in managing deep drilling worldwide, to further analyse the reasons NUR-1 failed to reach target depth and the feasibility of re-entry. The first step was to conduct a geomechanical study of the well to re-evaluate the design parameters for the well. This study was completed in June 2013 and a conceptual well design and revised drilling programme have been prepared.Â The existing well bore will be used to a depth of approximately 5,300 metres, where a window will be cut in the existing casing and a new well will be drilled from that point. The new programme differs from the original in that it will use slightly higher mud weights, and it incorporates the use of â€œexpandable linersâ€ to create the possibility of setting an additional protective string of casing should the well again encounter any drilling problems. Max Petroleum signed a memorandum of understanding with Halliburton during the six months ended 30 September 2013, under which they will manage the re-entry of NUR-1 on behalf of the Group, thus bringing their technical expertise and experience to bear on this challenging and highly prospective project.Â In order to complete drilling NUR-1 and evaluate its pre-salt potential, the Group requires additional financing. Finishing the well and evaluating this high potential target remains a top priority for the Group.Â Â
Someone who tries to biggup a stock so as to encourage naive buyers to make the price go up, and the ramper sells at a profit. Ramper: You guys should sell your house and buy as many mxp shares as you can cause i know a friend of a friend of a board member and he reckons the price will double soon.
RamperHater: Your a full of **** ramper, stop ramping that turd of a stock. by warren buffet March 04, 2004
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