Canadian Superior Energy (SNG)

[bdahl385]

Finally, the CanSup website daily drilling update report file has new information on it today. And it's not good news. At least they show to be drilling again at 15,271' even though the well should be at TD by now from the early May PR. My bet is that they had hole prob's again (lost circulation / stuck pipe / BOP repair / who knows?).

It is disappointing to me that CanSup hasn't PR'd this, they are acting more like a Pink sheet stock instead of an AMEX listed company on this lack of info.

The downhole prob's on Victory didn't affect the substantial gas discovery but the added drill time definately costs money.
There are footnotes in the CanSup financials that there is an ~$6M dispute ongoing with the driller over cost over runs on the first well.

Let's hope for a PR detailing an updated status report and a new target date for getting to TD.