RE: Georgina Energy (GEX)26 Nov 2024 19:38
Seems it has BB police so you don't see half of it, ...
"The entire re-entry program is expected to take approximately 50 days" I wonder if that includes this site visit besides set up of camp, pad and drilling..
Two rigs, I guess the 1st type is readily available, allowing the next to be lined up..
A rig to drill out the first cement plug at 30 meters depth then a larger rig to TD...
Its hard to judge how and if to play, unfortunately I have some at 13.5p, thats 50% above todays 9p close... So plenty will be have a great profit before I break even...
The maths to average down early isn't that tempting without knowing the rigs are contracted, and wells condition is fit for drilling..................
At 9p doubling up, ave 11.25, Trebling 10.5p
At 8.5p. double, ave 11p, treble 10.25p
The well is being pressure tested before re-entry,, what happens if its leaking, I have little clue, but guess its extra work, and the casings will need reworking ?