RE: JV, Sell, or go it alone?27 Jan 2022 08:25
Reading through the posts this morning I’ve picked up 2 interesting points. The first is from Glib at 04:10 this morning.
Basically Glib said when the rig was announced he checked to see the spec’s but he didn’t think they had any rigs that drilled deeper or with a larger bore. If that is correct then it makes sense that we would be getting a different contractor.
If that is true about the rig then it sound to me like Helium One needed the bigger drill but went with what was left on the shelf basically. So that’s like going to a one of those tool/plant hire shops and asking for a SDS drill with a 200mm x 18mm drill bit and coming back with a hand drill with a 75mm x 6 mm drill bit.
So, again, IF that is true why have Mitchell drilling not advised DM that they would be drilling with the wrong rig?
Like Porky9 said in his post at 07:00, Mitchell drilling are a fairly established rig provider in this region so I might be wrong, but I can’t see DM just going for another firm for the sake of it that’s similar to Mitchell.
If they are fairly established rig provider in the region, surely they would know the size of the rig required to drill for gas, do we agree or am I wrong?
This then begs the question who’s decision was it to drill with possibly the wrong rig?
Did Mitchells advise DM that the rig was suitable or did DM ignore their advice and gambled with shareholders money with possibly wrong rig?
Just my thoughts from what I’ve read off the board this morning but I would like to know the facts about the drill.