In any case the warm stacked rig dollar wise if its 5 to 10 is not going to kill the company, what will is the cost to drilling in Zimbabwe. If it only cost like 5-6 million for they idle rig last year they've spent another 27 million in 2024 on MK2 cost overruns ?
JAN 2024
ASX LR 5.3.1 The exploration and evaluation activity spend for the quarter totalled AUD$16.643 million
APR 2024
ASX LR 5.3.1 The exploration and evaluation activity spend for the quarter totalled AUD$11.0 millionq3 2024
JUL 2024
ASX LR 5.3.1
The exploration and evaluation activity spend for the quarter totalled AUD$4.440 million.
JAN 2025
The exploration and evaluation activity spend for the quarter totalled AUD$3.93million. The spend in
the quarter includes nonrecurring payments for the close out of the Mukuyu 2 well (AUD$2million)
If you total these with what was spent since April 2023 quarterlies its nearing 55-60 mil on an uncompleted MK2 well which is quite shocking to me for an onshore well even with a single sidetrack. So how much does deepening and flow test cost 25-30 mil ?
The drilling rates were relatively fast as well so where is all this money going
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