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@Christo122
"I see the location of the licences get frequently mentioned as being an issue for rig contractors 'being in the middle of nowhere'."
I wouldn't call it 'the middle of nowhere' per se. It's far from remote. I'll quote 'Kiwigeo' (retired O&G rig geologist) on this -
"88e are operating in well established oil and gas basins in the US. For a start...The US has a far bigger service company presence than Africa and a bunch of idle rigs that can be scored at short notice and a reasonable price."
I live in an area considered remote (area bigger than the UK, pop <20,000) and stuff does happen, albeit slowly, although the 'wet' does cause problems, tarred roads flooding, dirt roads turned to quagmires often for months on end. Lake Rukwa has a reasonable airport nearby, I think.
The lack of drills (and the cost of moving them) is the reason why IVZ have paid to warm stack 202.
Also there is not much choice in the service providers in Africa either. IVZ used BH with their last drilling disaster and it is possible they may use them again.
Totally agree. Sometimes a delay isn't bad, it attracts more interest. Why I'm here.
IVZ went through the same thing, original drill date was Oct 2021 but delays (not dissimilar to HE1) allowed it to gain more interest. Back then there was only half a dozen regular posters. Now countless - which also includes the weapon heads.
@dai2belts. They only kept drilling because BH stuffed up, so instead of having the rig sit idle while waiting for BH to get the tools to site they decided to try for a formation they believed was too deep before and never intended to drill to.
TD was supposed to be about 3000m but finished at about 3900m. So no ones really to blame for running out of drill pipe. I believe a 30% contingency is quite acceptable.
They were ready to go. It certainly wasn't rushed much to some SH expectations. The rig was on site for about two months being prepped before the drill turned.
All the big problems revolved around the service provider, BH.
If you ever cruise around HC, look out for a poster by the name Kiwigeo. He's a retired well geologist of 35 yrs that gives great insight to company operations including on how BH is classed as 'world class' and why such 'world class' companies can stuff up when working for minor companies in places like Africa.
@dai2belts. " I wonder who made the decision to start drilling before the tools were ready, and then to case the 1st section and keep going instead of waiting..."
Not sure. I doubt IVZ. Was it an error by the field engineer or oversite by the well geologist? I don't know. The tools still hadn't arrived when TD was hit. They then decided to keep drilling while waiting for the formation testing tools to arrive reaching 3923m and running out of drill pipe. Borehole then deteriorated because of time waiting.
It would of meant the rig sitting idle for weeks and the formation was considered 'tight', mud weight was over balance so risk of sticking was fairly high. Reading between the lines it could of been written off as a duster. But later this is discovered:
"However, due to multiple equipment failures of the gas chromatograph systems, mud gas
composition data is not available at depths shallower than approximately 2,820 mMD through
the Dande, Forest and majority of the Pebbly Arkose horizons. "
How one comes to the conclusion IVZ were using continual tool failures to their advantage to cover a disappointing drill, I don't know. If the test gear isn't there or functional how can you get a disappointing or excellent drill.
Esp. as they intend to drill the same formation again, with the same rig but different service provider instead of moving to Baobab where the well pad is already built. Which is why SP is hovering where it is today. BH under performed.
Correct, the wireline tools, once arrived, also eventually got differentially stuck and damaged as well, partly because of the high mud weights. But BH dropped the ball several times. Multiple failures before the sticking.
"Following the primary log acquisition, multiple downhole failures were encountered with both
the primary and backup wireline formation testing tools"
The fact remains BH did not have the necessary tools on site when required. The first target had to be cased without fully testing because of the lack of tools and after further drilling to TD and beyond, the delays contributed to borehole instability/breakdown and the necessity of the side track. Extending the drill time, cost and the second drill, Baobab, temporarily suspended. And possibly IVZ warm stacking the Exalo rig 202.
It is in various announcements of IVZ, this is from 26/10/22.
"Further analysis of this zone was interpreted to have tight reservoir properties with complex
mineralogy and a decision was made to forgo running the formation pressure/sampling
wireline tool without the appropriate sampling probe and packers available."
And from 18/11/22
“However, the presence of moveable hydrocarbons will be determined following the wireline
formation testing programme, which will be run following the arrival of the wireline formation
testing tool at the wellsite"
IVZ then decided to continue drilling instead of having the rig sitting idle. Then of course the hole started to deteriorate necessitating the side track. I think there was also problems with the gas detecting equipment for the mud gas.
IVZ were due to drill two holes but after the BH CF, they got one expensive one with limited info.
And just for clarification, I did buy into HE1 when the news about the rig not being released caused a massive, understandable, reaction. IVZ had very rocky start also but finally almost got there but.......... We got 'Bakered'.
"World class Baker Hughes downhole team, equipment & services"
That is certainly debatable, they are the ones that didn't help IVZ. The term 'we were Bakered' was coined. - Wireline formation testing tools not on site (just one example of a number) when required which contributed to other problems and delays.
Let's just hope they've sharpened their pencil.
PLS just sold 8000 DMT 5.2%SC @ $2,240US FOB through their BMX platform.
@ tony_currie
"David was his usual laid back self here are the main points in no particular order:-
8. Believes share undervalued - any of forth coming announcements should realise the true value."
Now that's funny . He was the one that devalued it. Reason I got out. Had no faith in his own company with his 20% discount on CR. I'll be back in below 2p
I really do not know what she/he's keeps banging on about. No one expected the public consultation to be big brass bands, cake and confetti. It has not pointed to any particular reason for being against the mine apart from the usual uneducated baloney. What I was surprised about was the low numbers of protesters - 150 (that figure came from an anti mine site tied to JL's alias.) considering how many FB pages there are opposing the mine and how many posts calling for people to join the rally. It was a pretty poor turn out in my opinion.
And it keeps yapping on about SAV could of made the release of the EIA earlier. I don't even see the logic in doing that, imagine the chaos.
Personally I think if this mine does not go ahead I do not believe Europe will be mining Lithium anywhere.
Because he did a garbage CR. He basically said all value, including the galp deal, in 2021 was worth zip. We had a steady climb until AR's brain f@rt.
LOL The word blanked out is gals backwards - a hill or area of refuse from a mine or industrial site.
Just shows how much mining has been is a bad word in Europe.
My point exactly. 21st century Europe. That spent the last forty years pushing mining to NIMBY, leave it to the 2nd and 3rd world countries. And now have absolutely no idea how modern day mining is carried out. I remember the days Thatcher pretty much chopped the mining head off in the UK with pictures of crushed schools and burning **** heaps.
I have read plenty of the comments made by the protesters but nothing with substance. - Dust, water pollution, explosions, lost way of life, destroyed tourism, property values going to zero, bridges built we don't want, don't want mining for no real reason apart from hating progression, blah, blah, blah. Normal whinging you get with change and no substance.
FYI I am under no delusion this is going to be an easy venture (or even succeed) and there will be very heavy protesting and probable court action hence an earlier post I made suggesting that the pathetic CR made was done in preparation of legal action.
"I think it is fooling yourself if you think that is why people are against the mine."
No, I'm not fooling myself at all. People are against the mine because of a great deal of false belief and propaganda, most of them have never seen a mine or would recognize a rehabilitated mine site.
And I quoted that as a prime example of the rubbish spouted against the mine.
Unfortunately people prefer gut feelings and sentiment rather than fact like this one from the website of protesters:
"If this environmental crime is approved... All properties will lose value and sold at almost zero value... to mine owners."
Absolutely incorrect. All towns that I know of close to mining the rent and property value goes through the roof and the usual complaint (unless you're the lucky property owner) is the mine has pushed prices up to unfordable levels. The cost of living goes up substantially because of the money flowing. Then once the mining ends the panic starts as house prices then collapse (back to a normal average).
And it's these false beliefs like this that fire up the people against the mine. Unfortunately.
Discuss with your regulators.