Yes 40% would be amazing. I'm thinking between 15-25% is more likely. 1 drill or 2? What will the chance be of successfully finding commercial oil? 25%? Would mean 75% chance of failure. 1 in 4 is still pretty good odds but you need to factor in this company could only be worth the cash component after any drill. What is the cash component?
My guess is 20% holding retained, 2 drill provision and 25 million cash. Who knows. Anybody else want to guess?
.08 last minute, page-35
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