High Arctic Energy Services Inc T.HWO

New PNG Rig?

[auburn2]

Was thinking we might be using some of the cash to purchase a new rig in PNG so we have the best rig available for the development wells.

[auburn2]

"Rig 103 is a heli-portable drilling rig operated by High Arctic in Papua New Guinea. The rig is owned by High Arctic’s principal customer in the country and is leased to High Arctic." So the majors may bring their own rig and High Arctic would operate it. Last NR was meant to temper expectations and provide balance, but still is fair to say High Arctic is the top services provider in

[colourama]

Exactly - you hire the experts for their knowledge and know-how, not necessarily their equipment. I imagine High Arctic has a significant competitive advantage in the know-how, even if their equipment might not be necessarily be employed for all the drilling.