Isn't this what people have been asking for factual timely reporting - the report is at the end of the estimated repair time. The report says the rig is repaired. The additional operations during drilling are defined - trip out - check equipment and trip back in before drilling the next 50m before they trip out and run casing. (If the can trip out of the hole I think that's an indication the kept the hole on good condition during the delay IMO.)
Then reporting will continue as per original schedule. Expecting the next report towards end of next week unless there is more bad news.
Whilst delays and equipment breakdowns are unwanted and expensive, I for one am happy with this reporting. Also note that there did not seem to be leaked info casing a pre-announcement spike in volume or price or both.
For those asking in other thread - they will get shows of hydrocarbon in the drill mud as it returns to surface when they enter the reservoir and won't need to fracture or complete to confirm this. I would call this well an appraisal well not an exploration well so we expect hydrocarbons. The question is how deep/wide is the column and how quickly will it flow through the reservoir and into oex's bank account?
OEX Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held