RE:RE:RE:RE:Dirk Dragonfly:
Pluma (TD 16,433ft) and Haimara (TD 18,286ft) were confirmed maastrichtian and upper campanian discoveries. See October 2021 CGX investor presentation slide 6.
If you include Maka Central's 164ft of campanian oil & condensate (API 40-60) - it's suggests CGX/Frontera campanian targets across the Northern Corentyne Area (i.e Kawa, North West Fan Complex) will be of similar hydrocarbon type.
Lau Lau had over 300ft of pay is extremely encouraging - however, it is also expected to be of similar hydrocarbon type (i.e. gas and condensate). It was also targeting upper maastrichtian and campanian reservoirs.
We are perhaps using different terminology - but, the December 16 news release suggests we are through the unconformity that exists between the campanian and the Santonian. This in indicative of encountering upper (or shallower) Santonian reservoirs that are visible on the CGX presentation (slide 10) above H23.
It appears we might have encountered hard / abrasive shales, etc that are causing multiple trips to replace bits.
However, assuming they were just shy of 19,000ft when they set the 9-5/8 casing shoe and still not in H23 would suggest they only have made less then 1,500ft of hole.
It's not uncommon to take more then 3 weeks to drill 8-1/2" hole less then 1,500ft - but, it it is on the longer side of what I have seen.
Maybe they are deeper then what we are thinking? Are there other operational issues at play that are causing them delays since drilling out 9/5-8" casing shoe back in late December? Is there a JV play at here in the works that are causing ops tream to take their time?
It's all fairly positive - just trying to make sense out of how extensive the delays are and where they may be in relation to H23 and H25. I see perhaps more mechanical issues at play then geological based on board comments... would you agree?