Your correct, the only thing is they gave a proposed TD now
WEEKLY PROGRESS REPORT No. 16 Octanex N.L. (ASX Code: OXX) (Company) has been advised by Santos Offshore Pty Ltd, the Operator of the Winchester-1/ST-1 exploration well being drilled in the Dampier Sub-basin permit WA- 323-P, that at 06:00 hours (WST) on Tuesday, 30 July 2013, the well was at a depth of 3880m MDRT (measured depth below rotary table) and drilling ahead. Operations over the last week have seen the 7" liner run and cemented in, with blow-out preventer testing and a leak-off test performed prior to drilling ahead in a 6" hole from 3771m MDRT. Planned operations over the coming week are to complete drilling the 6" hole to an anticipated total depth of 4378m MDRT and then run wireline logs over the open hole section. Winchester-1/ST-1 is a sidetrack to Winchester-1. It is being drilled by the Ensco-109 jack-up rig (Figure 1), in approximately 75m of water. Analysis of the log data obtained over the interval 3455m to 3771m MDRT is on-going and expected to take some weeks to complete.
OXX Price at posting:
38.0¢ Sentiment: LT Buy Disclosure: Held