NEO nuenco nl

statesman, page-9

  1. 1,508 Posts.
    re: statesman..waste of space can someone explain to me why neo spends 1.4 million on 2.5% and salinas spends 1.3 million to get 25%??

    ""Salinas is funding 50% of the cost of the well to earn its 25% interest. On a dry hole basis, the Company’s share of costs is estimated at A$1.3 million which will be funded from cash reserves of over A$13.0 million.
    Partners in the South Buena Vista project are:
    - NEG (Operator of the initial exploration well) 6.25%
    - Ivanhoe Energy (USA), Inc 56.25%
    - Salinas Energy Limited 25.00%
    - Statesman Exploration 12.50%""
 
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