Attitude & Strong StomachsIt's too soon to be nervous and it's never a good time to be nasty to those who are nervous...but you over nervous folks really need to figure out if you have the stomach for an investment like this. Low liquidity stocks aren't for nervous investors as a rule.
No one outside of the $CGXEF $OYL.V $FECCF $FEC.TO insiders and rig contractors know what depth they are at.
It's too soon for the bit to be at the primary target which is why try drilled the well in the first place...my best guess is that it will be drilled into late this month.
Deep wells like this are slow and any bit trip creates multiple day delays. Many routine equipment failures can cause a bit trip. Back when I was an LWD engineer I was often sent off the rig for a week at casing points and I do beleive they will set a liner that further delays the well from their last update.
Even in a worst case/dry hole event, I believe these companies will be able to attract a lucrative farmdown deal to a major. Canje did. I also believe that a deal will do more to attract investors to these stocks than the well outcome will...but that's also a guess so we'll see what happens.