I do know about the rebate, 85% 2015, 75% 2016
I was asking about your statement of $40million
They have spent over 50 mill doing first drill. 85% rebate is about 40 mill
I was sceptical to a cost of $50mill, but was not sure as to how much the first drill and evaluation would be.
I am pleased to see that the facts are so much better than your guess, as it is only $15.8 mill, and that the rebate will cover the B of A loan.
I like the up front plain speaking, and reporting still of 88E management, it would seem to me that whatever happens with 88E, we as shareholders will be told the facts.
Oil price up, page-42
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