big thinking, page-10

I agree, have re-read it a few times myself.

Looking at it on a simple basis, and depending upon the return requirements of the funder, we can get the following assuming conservatively that they would ammortise the well costs over no more than 5 years. Ok, so from this they clearly expect to get $5m per annum just in payback of costs, plus lets assume a small 20% per annum on the 25m expended, so another $5m. So for "x" number of wells drilled for the $25m, EMR should get at least $10m per annum, less some fairly small running costs. And of course, that is just from "x" number of wells. Unless the funding agreement has certain rights for the funder, there is nothing to stop EMR from funding some wells at their full 80%, or going out for additional 3rd party funding on similar terms.