zeus is spudded. how apt the name. if ever we needed the help of the gods, this is it. fingers crossed everyone.
-j
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zeus is spudded. how apt the name. if ever we needed the help of the gods, this is it. fingers crossed everyone.
-j
Very interesting day for CUE, sp been up and down, relatively decent volume. Help of the gods indeed hopefully the faith is rewarded.
Zeus drilling ahead of schedule today at 1,020m in 17-1/2" hole towards next planned casing point 1,885m, released along with announcement was a chart with drilling schedule for next 25days and actual schedule. I cant figure out how to copy the chart over here because of the security maybe someone else who isn't such a newb can.
In this market, with CUE at 14c, they're already pricing in a discovery lol
Good luck all holders. This could be very big for you.
it sure could, bermuda, but as we know all too well, the chances of success are much lower than the chances of failure. all we can do is hope for the best, and that PoO doesn't drop further - that's of much greater concern this year.
-j
I would have thought that The horizontal section of the first development well at Maari would have been completed by now.....
surely it must be real close...
on Dec 5th ann conductor casing placements had been completed on 9 sections...(with one spare location)...conductor casing to eliminate near surface caving in...
then batch drilling of the first 3 wells then began and was completed with casing to a depth of 900m which was completed on dec 24th...
on 29th dec it was announced that the first development well was drilled to 1532m (dated 28th), with 468m more to go until horizontal drilling of Moki Formation... and then horizontal drilling to commence for 1600m through the oil column...
then completion, equipped for production, and turned to the FPSO...
very recent reports still suggest early Feb 1st production from first development well..... then ramping up as each development well is completed...
so it has been 24 days since last ann...
we are due an update...anyone heard anything official...?
full production in August... so abit of time for oil prices to spin some magic...
Also, sometime next week we should hear on primary section of Zeus well...
not much of a BESBS play forming on CUE...
:cool:
.^sc
hurry up pay day, six days away, this one is on my watch ,list with seven others.
Should Zeus be dry this will be a disaster for MEO because unlike CUE who have Maari, PNG etc Zeus is it for MEO. CUE will not be spared though however bad news is exaggerated in this market and SP will take a hit especially with the continuing pressure of sub 40 Poo