OXX 0.00% 0.6¢ octanex limited

And here you go - at least they have a plan! Octanex Limited...

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    And here you go - at least they have a plan!


    Octanex Limited (ASX Code: OXX) provides the following update in relation to activities by Ophir Production Sdn Bhd (OPSB) at the Ophir Field.
    Nitrogen equipment will shortly be mobilized to the Ophir Field with the objective of restarting production following the non-routine production shut-in announced on 8 January 2018. As previously announced, production startup was unsuccessful following rectification of a power fault which triggered a full process shut-in.
    Wireline surveys have now confirmed the mechanical integrity of well completion equipment and confirmed the wellbores were free of obstruction. The surveys obtained other valuable data including well bore fluid pressure gradients and reservoir pressure to inform various options aimed at restarting production.
    Nitrogen, because of its low density and high pressure characteristics, is commonly deployed in production operations to displace well fluids in order to initiate flow, and has been selected for the Ophir Field following completion of the surveys.
    Nitrogen lifting operations will commence following mobilisation of equipment and pending suitable weather conditions for platform access.
 
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