Mandurah, have you ever invested in an onshore oil company, or any oil company for that matter? It certainly is not even close to $50m. It is way less. It is going to cost TPT around $30m to drill an offshore well with a jack-up rig in depths of around 200m and drilling to depths of at least 3000m (probably further).
It's likely to cost around $10m for SWE's drill, give or take a few million. Of course they can blow out to $20m but I doubt that'll happen here (but we can not be certain).
SWE Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
