Yes, I'm not sure I'd like to see the same chart for Palta. That well is taking an awful long time to drill it would seem. Noble fleet report out today said 45d downtime in Q2. It's been so long since that well spudded I forgot when. October, wasn't it? If you think about it in terms of cost to Shell, it's a zero dollar cost really, as they have to pay the dayrate for that boat right up to Jan 2015. In fact, the downtime will be saving them money, esp. if they haven't got the G&G ready for the next hole in Prelude. Don't pretend to know much about O&G drilling, but if there's anything at all in the Palta well, I'm guessing they think the dayrate is better spent logging that hole before the plug and abandon than punching random holes in the floor of Browse basin.
OXX Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held