RE : ?20 Jan 2020 11:41
He is probably hedging his bets that he can start the ball rolling with the bond issue which will give investors/ market a little confidence and then update c37 which remains a failure since that first rns back in October. The cement plug they were supposed to run, either didn't happen or it failed and the so called bridge plug seems to have failed or it didn't happen. I tend to side with the comment made here that socar have become disenchanted like the rest of us at the so far 100% operational failure and are not going to sanction another waste of effort until at least one of the current dogs dinners can be finished and producing. I am pretty sure that most on here would have been having very intense discussions with our business partner after 3 years of abject failure, broken promises and incompetence. To mash up a straightforward up and down well,deepening of a few hundred feet is inexcusable. Blame the geology, blame the rig, blame to weather, but ultimately the failure is theirs. Zenith need to propose a technical solution to the issues encountered at c37, this time they cannot blame old data and old wells and poor conditions because it was checked, cleaned and chek d again this time. TBH, I didn't really believe the early excuses that the old wells could not be reworked. Maybe not by Zen, but by a driller that knows what he's doing and is incentivised to perform efficiently and at the top of his game as opposed to these guys that look like they are on a day out from the retirement home or an afternoon stroll on a Sunday.
There is more chance of seeing 1p before 3p by the way things are shaping up
I'll keep taking the happy pills.
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