The 250% is a bizarre argument. Yes, the end cost will be well above the dry hole cost...primarily because the well was completed...as planned. You're making a mountain out of a non existent molehill. It's not hard to see that the overrun will comprise of the lost tool and some rig time. You don't have to be the sharpest tool in the shed to see that. My $14m call is top-side.
struggling to see the irony...the only irony I see is you continuing to post doom and gloom following a great drilling result. It'd be comedic if it wasn't so sad.
They've outlined a portion of their forward program...everything seems fine. I don't agree that they have to pause. What they have outlined is very manageable. As Jophda says - if you've ever had skin in a decent business you'd understand how cashflows work. It is all about knowing when your bills are due and ensuring your cashflows align.
BYE Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
(20min delay)