High Arctic Energy Services Inc T.HWO

Impact of rig 103 offline

[walkerped]

The report says they expect more drilling activity in png in the second half of the decade. Once rig 103 is offline, will the png co. just be bleeding cash until then? How bad would we expect that cash bleed to be?

[longrun86]

I suspect that the camp services and rentals could help minimize losses. The issue will be having a dedicated Senior Management team to build the business in anticipation of PNG LNG approval next year. My read on PNG is that there is enough global interest with the desire to see the country progress that there will be a significant transformation of the country.

[colourama]

The company will also receive standby fees after stacking the rig, until the contract ends in 2025. That will help contribute at least a little bit to cover maintenance costs while PNG develops. Per the conference call: "And will PNG with all other business will stay positive in H2 and kind of the fee that you get from Santos?" Michael Maguire "Our anticipation is in the