RE: KN -1 Perforation7 Jan 2019 15:13
First Part 29/8/18 "The Company initially plans to repair a faulty valve during the current quarter, which is expected to allow for gas to flow from the well and evaluate operational parameters at the reservoir and gas processing facility".
The above has been completed as was announced.
17/12/18 "The Company engaged Schlumberger SEACO Inc. ("Schlumberger") to remediate and troubleshoot a faulty sub surface safety valve ("SSSV") on its Kiliwani North-1 well. Schlumberger were mobilised to location and the SSSV was repaired. During the operation the well was fully opened and test gas flowed to the plant for a short period. The Company believes that there is a fluid column in the well and is analysing the operational and testing data."
Second part 29/8/18.. "Pending approvals, the Company will then proceed to perforate a lower untested and potentially gas bearing section of the reservoir system which is anticipated to occur during the fourth quarter with the intent to bring the well back to full time production"
On 4th January the presentation Page 17 quite clearly states "Perforation of the lower zone progressing" and I would therefore suggest it is fair to read that the approval had been given and that perforation is actually underway or at the very least ready to roll based on information that came from official sources.
Now according to a poster yeterday he was told various things that contradict this and he implied we should trust our board after he himself not doing so since July.
So what do we have here?
A poster telling porkies? Our Bod telling porkies and then giving inside information to said poster contradicting what they had put in writing? I make no assumptions here but whichever way it is, I'm not happy, so I will write to Jay in attempt to get some form of clarification