RE: Malcy's Blog7 Apr 2020 17:04
Agree with old malcy on this one..
we had the Abandonment of drilling operations at WR-51Z ….
The Company has aborted drilling operations at the WR-51Z site owing to the discovery of poor existing well conditions. Legacy wellbore integrity issues are an inherent risk with re-entry operations and the occasional abandonment is to be expected. The Company is currently ranking and risking two additional re-entry candidates in West Rustavi and potentially a further 14 in Block XI(B) ….
... Big deal.. this is oversold because impatient investors got a dud well... that's part of exploration.... even majors like shell & BP pull out of wells for one reason or another so lets suck it up and wait 6months and see where we are... more than1.6p my guess.