RE: cementing25 Sep 2019 17:35
FRR have had historic cementing issues with old wells in the past the same thing here. I presume PH didn’t bother to try and communicate with FRR prior to their campaign starting I think they thought reworking an old well would be straightforward.
FRR eventually probably too late realised that the only way forward was to drill completely new wells from scratch.
I think serious investors should not lose heart here, this was their first attempt and they will learn a lot from this well. It’s not a disaster or a duster by any means and it may mean the BoD revise their ongoing work plan and get better results. Forget the Oil here that’s a sideshow, the real prize is the gas imo . It’s there it’s flowing it just needs the right plans put in place to get it out in commercial volumes. Something FRR struggled with although they were beset with too many political issues in the past. With the GG buying into Bloe then they are on steadier ground.
There’s always caution with new Oilers so I’m not sure why so many pontificate as if they are educating us. My only concern is Schlumberger have been drilling 18 months and nothing heard off them.
Is Georgia rich in Carbons?, only time will tell. Bloe are funded for the work programme and if fruitful may attract a Farm in or JV... they have it all to prove but it won’t be overnight so those wanting a quick buck should look elsewhere for the next 3 months.