Anyone know what happened with the Shell Well?Didn't this rig go from drilling Kawa-1 where it had serious issues with high pressures, heat and kickback where it was not safe to do the normal complete testing and the rig went directly to T and T to drill one well for Shell with a brief layover? So, Shell had this rig for almost a year and was this rig just used for just that
one well for Shell? I know they had some severe mechanical issues but was the well finally completed and has Shell announced if it was a success?
Just wondering as this article leaves the Shell story out completely and reads like that CGX is at fault for the many delays in drilling the Wei-one. In hindsight, couldn't they have picked a better name than the Wee One Well? Hopefully, it will turn out where the Godzilla one well would have been more appropriate.
Sure not much interest in either stock but I did not expect CGX to drop 12% on what seems to be good news. Articles with some misinformation like this do not help.
CGX Energy Finally Spuds Wei-1 Well After Months Of Delays | the deep dive
Also, I am in the US and trade through Schwab and found the FEC TSX options but they are so thinly traded, I don't see where they are of much use. If some puts are reasonably available out of the money around June, it might make $ense to hedge your bet if you are holding a large position in FEC but I doubt there will be any. I was suprised at the light trading on both companies on the TSX. No real buyer or seller stood out, maybe TD with a little retail selling of OYL but the news of finally spudding a potentialy high impact well seems to be of little interest to the markets at least today.