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I’m. Not clear if a commercial discovery can be announced even after the 2 week wire logging. My understanding is that you d need to complete flow testing before the commercial prospects can be assessed. I think that may take several more months to fully assess?
We re still well within the 2 week quoted timescale for repairs and I suspect they will want to complete additional drilling before we are provided with a substantive update. In truth we have no idea what part has failed other than it is engine related. We do however know that we have about a weeks drilling remaining which means the narrative could change very quickly.
It doesn’t seem likely that we d be happy to let around 50 staff sit around doing not very much for up to 2 weeks whilst we wait for noble to catch up. As strange as it may seem maybe our rig developed a fault which will take some time to fix and it is what it is. There doesn’t always have to be a conspiracy even if it does seem quite the coincidence.
I expect she assumed that the majority of investors wanted to know the basics of what had gone wrong and more importantly how long the thing would take to get fixed. For the more interested she probably wanted to explain it’s the engine as opposed to the drill bit. I’m sure she knows the exact part but I’m not sure she realised she was pitching her answer to engine enthusiasts
I thought Lorna looked exhausted in the interview. Rather like a leader who had spent the night trying to help resolve an issue with her team. I read various conspiracies here yesterday the failure happening days ago but this interview I found reassuring. Unfortunately rigs develop faults, it is what it is.
Well the last time Lorna issued a very depressing RNS was when the rig fell through and was met with understandable constipation. The very next trading day we got an RNS saying we had already bought and transported a rig. Maybe tomorrow we ll get an RNS saying something like sorry forget to mention we had a discovery at 400 metres?
I get that charts are useful in stocks generally but I’m not sure how useful they are on an AIM exploration stock. This share was 28p on the day before the washout and roughly half the day after. No chart would have helped with that. And there are lots of other examples of all manner of different events that can and do happen all the time on AIM stocks that cause similar significant increases or drops that charts can’t predict.
I just feel abit sorry for Lorna. Day after day she s been posting beautiful photos from the site that David Bailey would be proud of and all people seem to want are pictures of bubbles. I hope she posts a picture of a frothing can of coke to teach people a lesson.