Sterling Energy.

Spoken to some of the chaps over at Honeywell this morning the whisper is that SEY are behind their time line at the Sangaw drill after encountering problems with their rig/drill.

Apparently there was an update due when the drill had hit 1800 metres timed to be released with their 2009 annual report. Looks to me reading from the sp fluctuations over the last week that problems are being encountered.

News from the Sangaw north update should be positive given the history of the area and the seismic. Here’s hoping.

Update from Sangaw is well overdue could come any day.

Daniel

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  1. stiegofthedump says:

    Dan

    Surely this is old news? Their Chairman’s Statement said they werre at 233m at 29/3/2010 and admitted “drilling operations for the two large diameter surface casing strings have been challenging”. That means they are way behind and unlikely to make up the lost ground. Sure it explains the drop over the last 2 weeks – expecially when combined with initial rumours of a positive update about 2 weeks ago.

    The way you have worded this blog implies that they have had additional problems on top of those already reported. I don’t necessarily believe that this is the case. Was this intentional on your part?

    Stig

    • Brokerman says:

      The statement you speak of effected the sp three weeks ago.
      The problems being reported are germane to this WEEK.
      Things are NOT well at SANGAW North hence the dip over the last several days.
      Expect news.

      Dan

  1. 24 April, 2010

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