I don't think Blade directors ever had any interest in exploration in
Bonita or anywhere - not when they are using there own money.
They just want to in take the proceeds of the known reserve and call it quits. Fair enough IMO. Some of these exploration wells have difficulties and the cost blow out to $70 - $160 million astonishing. And even then the success rate is maybe 1 in 7.
What is the industry average for success in exploration drilling. With success being a commercially viable discovery.
In the various companies they work for they are probably pro exploration, but those entities they represent are of a very different size / structure / riisk profile.
The type of rig they proposed at Cadloe possibly reflected the intension for no ongoing exploration. I don't know.
Of greater concern is the next 3 weeks, I think the project manager for Viking has almost everything lined up perfectly, and will make the call to proceed.
Is it straight into an expensive production well? Or do they use exploration drilling that are abandoned even if they has successful? Or is there some sort of a hybrid well?
How many people would be expected to be employed? Are they ferried from a nearby small port / island on say 5 day shifts? Would the consortium build their own accommodation, or just use whatever is available after the recent typhoon ravaged the nearby islands.
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I don't think Blade directors ever had any interest in...
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