OXX 5.26% 3.6¢ octanex limited

As the rig was scheduled to commence the Prelude drilling...

  1. 1,027 Posts.
    As the rig was scheduled to commence the Prelude drilling programme in September perhaps we will see the end of the saga this month.I hope Shell tosses us a few crumbs of information in addition to "the well has been plugged and abandoned as planned"

    From the latest Quarterly Report of OXX

    "During Q4 2012, Shell commenced drilling the Palta-1 commitment well in WA-384-P (see Figure 5).
    Shell contracted the semi-submersible rig, Noble Clyde Boudreaux, to drill the Palta-1 gas exploration
    well; which was originally expected to take up to 90 days to drill. Drilling operations were affected by
    significant periods of downtime and delay due to equipment failure, cyclonic activity and limited
    helicopter coverage.
    Palta-1 was to be drilled in water depths of approximately 1300m and to a total depth of greater than
    5000m. The well is the final work programme obligation for the extended Year 6 of the WA-384-P
    permit’s initial term.
    The results from Palta-1 will not be known until the well has been plugged and abandoned as planned
    – it was continuing as at 30 June 2013. The Palta-1 well is the final work programme obligation for
    the extended Year 6 of the WA-384-P permit’s initial term; which ends in August 2013."
 
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