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I am far more recent. I actually did take some off this week and rolled some into HBR but still a meaningful hold here. It’s a real test to the risk tolerance to sit in something so binary. Fun. But challenging. Do you take your 40% or stay for the next 40% which I would think you could buy back in at if you ditch and wait for positive news. Decisions. Decisions.
I don’t know what it is but will most likely be in the region of $300k per day. Ie meaningful!!!
That rig ain’t staying a single second on site/contract longer than it has to IMO. And it’s a 6th gen semi…..There is no way they are not getting real time data from the hole as they go. If the logs were showing a complete duster they would be up and off. We know they will sidetrack if they see something they like. But that decision in itself is what may take time and a fair bit of further analaysis. They need to back up the drill bit and decide exactly at what depth and location they want to sidetrack to get most useful info/intel from the sidetrack. It’s a 1 shot process so you can’t **** it up.
Every morning I wake up and getting more confident there is actually something to analyse and test that ain’t just sandstone. Could still be water though I guess :0
The suspense is killing me.
Craig…what would that change now? you do know for the first time in several years we are drilling a big **** off hole on the sea bed in search of black gold with the result of aforementioned drilling of big **** off hole due any day? You do know that right?
Rig would have to carry enough cement for a standard well plug for safety reasons. You need more cement for a sidetrack plug and also more drill pipe to then drill the side track. The bigger plug also takes more time to set before you can start drilling again to create the lateral force.
This is just usually!!! And in no way do I know anything about this well fyi.
Sooooo…. To side track this you would go off the original hole. But you need to pull the drill bit back and then plug the well and you then need something to create a sideways/lateral force in the hole. Hence to push the drill bit sideways.
For that you would need supplies and a supply ship.
Commercial (lending) banks arent making excess profits. They are just making normal profits after having to contend with zero interest rates for the last 15 years.
Where will it stop if we go down this route?
Did dominos pizza make excess profits in lockdown along with boohoo and asos? Did Pfizer and gsk make windfall profits from the pandemic when oil was negative?
The fact is very simple. Business is CYCLICAL. You make money some year and lose it in others. But you need the good years to cushion the bad. If you don’t allow companies to make hay whilst the sun shines then they have no balance sheet cushion when the bad times come. And they will come!!!! Eventually oil will fall off a cliff. Just like eventually people stoped buying delivery food, covid tests and shopping online once the pandemic ended. Just look at asos and boohoo results and share prices for example.