That's sounds decent. I work 12hrs on the Panama schedule -- one week I work Monday/Tuesday, off Wednesday/Thursday, work Friday/Saturday/Sunday. The next week, it's the opposite.
I like it. It works out to working 5 days one week, 2 days the next. And you get every other weekend off, instead of having to work up the seniority to have weekends off. And, with any condensed schedule, you use less vacation hours (I can use 24hrs of vacation on my 2-day work week and have the full week off, rather than burn 40hrs on a five 8hr-day schedule).