RE: Market12 Feb 2019 11:36
Fair enough Tom, it may not have been a value accretive event, but I said derisked ‘current operations’. They have a contingency well- Lesedi 5 for the purpose off a failure at Lesedi 3a,3b or 4a,4b or in the event that they may have to be completed as singling laterals like what happened in 2013.
“The lateral Selemo 1B commenced drilling in August 2013. However, this well encountered problems which eventually led to the drill string becoming stuck in the hole at 536m measured depth. This well was subsequently suspended and Selemo was completed as a single lateral pilot pod. At this point activity moved to the Lesedi pod which was designed to be completed as a dual lateral pod”
Thats was why I said derisked current operations, which the team have rightly done so. IMO, Todays news should be interpreted as great news, and does not deserve the mediocre reponse in the SP drop.
GL