OTCPK:MAUXF - Post by User
Post by
zeus55on Jun 27, 2013 8:35am
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Post# 21575769
More bad news
More bad newsAt least we now know why there was so much selling yesterday;
"The UMU-11 well was originally planned to spud in the third slot of the UMU-9 drilling pad. When trying to clean out the 20-inch conductor that was previously pile driven to a depth of approximately 300 feet, the UMU-11 well encountered an obstruction at a depth of approximately 275 feet. Retrieval and milling operations were attempted to utilize this drill slot, but were unsuccessful. It is believed that the 20-inch conductor is bent or kinked, which caused an obstruction. The rig will now be skidded forward to a new slot utilizing the existing drilling pad."