Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: Re: Put it in the right perspective and see what we got in terms of evidence...

"If the rig is not contracted for another job (and we know it would certainly be outside the mako, becasue its doubtful the JV or MOL would have another well ready to go), then the contractor may have decided to leave the equipment for now. Why demob the equipment if there is not another job imminent? Maybe they are waiitng to hear from the JV before they move it. This is not a development project where hole after hole is popped by the same crews and same frac teams, driving down the cost. This is rank exploration. AND THE WELLS ARE AMONG THE MOST EXPENSIVE LAND WELLS EVER DRILLED.

It most certainly would cost far less than $100,000 per day to hold the equipment if it is no longer under drilling contract. Maybe the JV is readying another well, maybe MOL and FO are looking for a partner. it doesn't say anything! It could be anything!"

Everyday that rig is standing, the BOP's are installed and a full crew comes to work Exxon is paying the bill. That bill will be 100,000+ a day (I can't quote exact figures because I am located in North America and pricing for services is different in Europe). In case you doubt what I'm saying, I'm employed by one of the companies that are involved and know how things work. Saying that...I haven't any inside info!

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