another extension 9 days, page-41

Dozen,
I don't think WCL have spent anywhere near $89 million on drilling and testing in Meridian.
Most of $89 million since inception went on exploration and production expenditure in Paranui, Tilbrook, Mt St Martin and to lesser extent on GB last year.
Think about it, since taking over Meridian they have drilled about 11 wells (8 laterals and 3 blind laterals and done some recompletions). WCL needed to stump up half the cost and use their own rig for most of the work. Nothing like $89 million to gain what they have and it isn't 1tj.. To my reckoning they started at around 7.5 tj/d and should now be up around 14 to 15 tj/d, allowing for the fact some recently performing wells have needed to be taken off line for recompletions new pumps and are believed to be coming back.

All infrastructure to get to 65tj/d is mostly in place. Just need to add compression capacity. If the average lateral well in Meridian will do 800 000 scf/d then they would need to drill more 62 wells. How much do they cost per well? Worst case $2 mio. That is $120 million , WCL's share is half that.

Maybe I am being a little optimistic..but really I have to question your math and understanding of what WCL has been doing since inception.