EPG 0.00% 41.0¢ european gas limited

is there a parallel universe lol, page-12

  1. 105 Posts.
    No, to quote directly from the Anglesey report
    "During the year the company completed 2,225 metres of diamond core drilling in four holes"

    Now I appreciate a hole 1500m deep will be more expensive per metre than a hole 550m deep. But not by a factor 6 (before it overruns by a further factor 3 hopefully not to our account).

    Trouble with finding comparatives though is you need to think of someone going quite deep, 3000m as 30 x 100m is clearly quite a different animal.

    There may well be further reasons (perhaps Anglesey own their rig, I don't know), my point is just that the price doesn't appear dirt cheap.

    So long as it won't be Cofors drilling for pilot production I'm not bothered enough to chase the matter up. More just chewing the matter over. I am rather unimpressed though and the extended timeline does colour my view of the management.
 
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