Valued Partners,
We are pleased to report that we have taken receipt of all parts/components, apart from one. This part is for the BOP (blowout preventer) which is an essential mechanical device/valve to perform and complete our drilling operations. After contacting the 16th supplier we were able to order this part, and the estimated time of delivery is between 1-3 weeks. Once delivered to the site, our operations crew will install the part, and conduct the required safety checks. After the safety approval has been ed, we will recommence our operations by drilling the remaining 5,000 ft of the horizontal section.
Our Australian Senior Partners, Peter Fagan (CFO) and McLoughlin (COO) are flying out to the U.S. in April, in which we plan to be on-site for the ASE 5-1H hydraulic fracturing procedure, which is scheduled to be performed by Quasar.
