I'm just a bit curious as to why the net cost (as stated in the announcement) is $20m. That's $100m for the drill. Given that drill and associated costs are supposed to have dropped over recent times, does it not seem a bit high?
According to Diamond Drilling's rig status web page, the rig is contracted to Quadrant at $410,000 per day to end Nov, then $350,000 per day until early Jan. By my reckoning, a two month drill would incur $23.15 m in rig costs. That leaves an awful lot for associated costs.? But then, I have to admit to being a mushroom as far as Drill costings are concerned.
Ann: Phoenix South-2 Well Commencement-CVN.AX, page-57
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