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Hey Zephyr, is that bladdy toobin out of the hole yet? Can we use the casing as-is or do we have to pull it out? Have we got the cement pump on site and ready to go? Slow innit, haven't got too many years of my life left to sit and wait, come on man!
Bubble my old mate, well done, you managed to get me scratching my head about W4!, thought it was a new well being drilled or something--or related to something going on in another company--until I realised it was a wayward finger. Had to smile. :)
Think we have all done it at least once. What is equally stupid is to spot a golden opportunity from a comment in an rns that seems to have been overlooked, go into your account, buy up a load of stock, watch the SP go up 300% in a couple of days, decide to take out the profit, only to find there is no trade there and you have the original cash sitting in your account--then you realise that you never accepted the original price quoted, therefore never placed the trade and spent 2 days watching something for nothing. :).
GP. You must have misread the rns "Rhein Petroleum has performed a successful recovery or 'fishing' operation in the SCHB-2 well to free a directional drilling assembly stuck in the 12¼" hole section and has returned it safely back to surface."
Recovery implies that it was detached.
Fishing implies a specialist recovery tool attached to the end of the string and designed to engage into the top of the drill collar or whatever it was that came apart. - We will never know, but it does mean the bha and dd assy was separate from the drill string.
Returned to surface kind of says "thank fk we got that back in 1 piece"
Directional drilling assembly is not a stuck pipe.
And yes a couple hundred thousand dollars worth approx of LWD, Mud Motor, Drill bit and anything else they had hooked up--plus however many days delay. Reflected in the SP, confidence dented, expectations tempered, opportunity to buy more for those that remain confident or in blind faith. I must be one category or the other as I bought a few million yesterday just below 0.8 . Anything over .12 in the next 2 weeks would be nice.
Can't really think why you are not surprised that the drill crew are incompetent and managed to drop a couple hundred thousand dollars worth of BHA and DD equipment down the hole and feck up the well just for good measure. It was very poor performance whatever way it gets dressed up. Anyhow, it allowed an additional purchase this morning, already showing a couple of $ profit.
Seems to me that there are issues with CN2. We dont even know whether they drilled it successfully or not. Either that or they will report on CN2 and CN3 concurrently which based upon previous timings should be about ready to complete at this time. 3 weeks for CN2 and another for 3 for CN3, plus a little time for setting up on the new well position and checking the rig and consumables etc, say a week at most.
Ra11. you are being selective mate and you are implying that there are increased hydrocarbons as if it is something more than it is. ""We had made good progress with the drill up to this point, with the situation occurring just above the first target zone, with all shallower horizons being on prognosis and the well encountering the expected increase in background hydrocarbon gas as the drill bit got closer to that target.". this means that other than there being no gas being brought to surface in the drilling mud from shallower levels there are gas shows. The gas has permeated through/bypassed any trap seal that might be in place and is expanding into the mud, it doesnt' mean much other than there are hydrocarbons (gas) in an unknown amount within the target area. If they get oil shows on the cuttings it indicates oil is there but it still doesnt mean anything more than is expected and may not be sufficient to make it commercially viable. Overall, it is of course better then not having any gas present but dont make it something that its not---yet. We are of course all hopeful of a resounding success--especially my daughter whom i have promised to give any profit to.
N&L. probably time to ask the question of the management team. news now overdue, maybe the possibility of bad news has been absorbed in the price but probably not entirely. Thing is we dont know what they are testing at Cn2, if it it just the c7 then there is no real point as if there is oil it would just go straight into production. If they are testing other zones then maybe 2 weeks or so is needed for a decent appraisal.
Maybe checking for leeks? (yeah I know, but it always makes me smile) We did an LNG project in Pembrokeshire some years ago and that was one of those internal jokes, it being Wales 'n all.
Hopefully gradually increasing flow and co-ordinating with NGC, checking gas q and metering skid, vent stack, but maybe thats wishful thinking. A brief twit to say that gas has left the well and found its was to the NGC export line would have been a nice bit of news/PR ( If I'm allowed to say PR that is). So, on the basis that no news is erm,, no news then I can only guess that there is nothing to say. I took the daily meds this morning, might have taken 'em twice.
Has anyone thought about why they may be deviating from a vertical well and why there was a directional drilling assy in use? There are many reasons of course including avoidance of some troublesome geological obstruction, but tbh I assumed this well to be a straight up and down job.
There is also the question to be asked of why and how they managed to get it stuck?. Freeing it and retrieving it was fortunate, getting it stuck was a failure of some sort.
Ivans, it is what was expected, but the good thing is that it more or less confirms that their expectations for the well are looking positive. Gas above the oil reservoir is normal. (I'm not answering as an expert by the way !)
Looks like I still have about 25000 or so, forgot about them, so I'm still 'in'. Yes, bit of selling, SP frustrating still but not bombed as you say. No I have no idea how I managed to forget about them! Till Monday then.