The last update mentioned slow drilling due to Pagasa Formation claystones and elevated formation pressures.
If continued elevated formation pressure is experienced, progress can be slowed somewhat by a need to continually monitor and adjust the mud weight so as to keep control of the wellbore condition, and without damaging the formation behind the borehole.
After re-reading the last update, I note that Phil also said "expects to be at the primary reservoir objective in the next few days, based on forward drilling estimates."
Imo, "at the primary reservoir objective" means reached the top of it, not TD as many would want to think.
On Monday 23 they were at 2,329m MD (212m MD into the secondary) with another 209m MD to go to reach the primary.
The primary objective reservoir is a 569m section to TD (2,568m to 3,137m MD), and if they continue to experience difficult hole conditions in this section as well, we may not see TD until closer to the end of next week.
This of course is just imo. Another update to the mkt could help us understand the situation and relieve some tension!
NDO Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held