announcement, page-80

Well according to the last Qtrly QPN thinks the drilling costs are likely to be low ... They are to drill 3 wells initally I beleive here is the statement...


"...Estimated well and seismic costs are likely to be low at US$1.2million and US$2.0million (for 500km of
2D) respectively..."

I suspect they mean 1.2m per well not for all three... and no mention of wireline testing may be in the cost maybe not.


So they could drill 1 well for 1.2m encouter hydrocarbons which will drive the price through the roof then raise...

Personally I think the JV/farmout route is much more likely and low risk.