The precise interests of VIL in this Bongo well are: 12.5% participating interest - they had to pay this percentage of the drilling costs. 9.375% working interest(W.I) - they have to pay this percentage of the completion costs of the well. 6.94% net revenue interest(N.R.I.) - after royalties payable from gas/condensate production.
We'll have to wait(ages)before we get a possible net reserves figure - Caza were originally hoping for 25bcfe gross pre-drill from this well but as the lower targets were not achieved that means considerably less has been found.
VIL Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held