Good to see the reasons for the overruns announced. Also good to note that OEX expectation on drill durations are not as relaxed as some investors. For me it's important costs don't blow out so the canning technical work and sell down (I assume this is the plan) can happen without another capital raising.
The hole will be a little more expensive than planned but good to know the rig (and hopefully most of the other spread) is off hire. Anyhow, on the positive side, better a problem on topside than down hole - which I thought may be the case with the share price decline Friday.
As for past predicting the future - we have to wait another 10days to find out when we get to the tricky part of the well (Should read future in subject .... ) which will see oex snaking its way into the reservoir, fracture stimulating and hope fully pulling out of the hole to start a production test this time!
I remembering posting that Christmas would be a good outcome for completing the drill.... Easter will do.
OEX Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
