BHPP were going to drill Cinco as the initial SC55 drill, so in regard to your expenditure vision you are correct, as that drill would have run to around US$70m (at that time).
However, the compensatory gesture offered by BHPP for pulling out of SC55 just prior to the vinegar stroke, was a payment of US$24.5m on completion of drilling the first hole in SC55...it wasn't specified which hole had to be drilled.
OEL have opted for the possible oil leg Hawkeye, which was their primary target before BHPP changed it all up.
Bottom line bonus is that the drill costs for Hawkeye come in at about 50% of the Cinco costs, and that's how OEL manage to come out with a free carry...imo.
Capital Return, page-20
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add OEL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.3¢ | 1.1¢ | $47.16K | 3.961M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4125287 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 16783875 | 23 |
View Market Depth
| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| OEL (ASX) Chart |