Chass,
You missed the fine point of what I was saying...I'm not talking about all the deeper water stuff in SC54, or the other held blocks, only the shallows of SC54 which NDO excluded from farm out anyway in the prospectus...do some research on the Yakal and Tindalo drills, and/or have a look at the KIK SC54 shallows JVP ann.
This is definitely affordable at todays hire rates if Galoc keeps on keeping on, albeit probably with a cap raising to close any initial shortfall and provide a buffer.
The drilling results of Y & T removed an immense amount of risk for this said project. Moreover, the EPT of Y & T could probably carry this forward financially on their own.
BTW, I'm not sure where you get NDO carring 80% of the risk from...they don't hold this % in any block.
The more I think about this, the more I like it!
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