RE: drilling order18 Aug 2018 12:22
It is confusing. Have been watching West Pheonix and apart from supply vessels she remains anchored, when if the programme is being met would have moved some days ago.....maybe they are technical problems?
Having been given the green light by Norwegian Authorities in early June, Equinor have stated drilling in Ragnfrid will take 81 days using West Pheonix. It is not clear when this will start but entirely possible this year even though moving the vessel almost 400Km would seem poor management given the time involved. Added to which West Pheonix is already fully programmed to operate in the Barents Sea in 2020, which may seem a long way off but given the already changed programme for this year only places greater pressure on the Drill Operator.
Equinor is a huge operator with fingers in many pies, whereas, we,(JOG) is a junior partner who is dragged along.
When Investors are able to ascertain the operational movements and objectives without punctual updates, PI's can become, at least, disappointed.
IMO and if there is further delays with the Drill, the BOD would be wise to release results of the 3D survey as soon as the data has been analysed. No doubt the Drill is required to further confirm the extractable volume, but as I understand it the 3D will show the size of the Field(Verbier) if not the potential volume.
Nothing worse than the confusion this uncertainty creates, even for LTH's..