"Triple Energy Limited (“Triple”) advises that whilst a drilling unit is under contract and has been procured for the test wells"
"LongMay Coal Mining Company (“LongMay”) Triple’s 20% JV partner in the AJV project) is the owner of the on–site drilling unit that the AJV has procured for its test wells"
16/4/13
"Current operations are preparing the rig for operation, procuring to site the necessary coal seam gas well control equipment including a blow-out preventer (“BoP”) and securing the delivery of third party services (e.g. cementing, testing, wireline logging). Specifically, given the delay due to the mine cave-in, Triple elected for cost saving reasons to have a new BoP unit manufactured in China rather than importing (the same unit) from Australia. The delivery date of the new BoP is estimated at around 3-4 weeks."
TNP Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
