BHP spent $900M on oil exploration in the nine months to 31/3/12.
For the 2012 financial year BHP expect to spend
.......................................$1,400,000,000.
BHP will spend $70,000,000 on Cinco
A further $70,000,000 if a second well
($30M also already spent on seismic)....$170,000,000.
As you can see if BHP had drilled Cinco in April and drilled the second well in this financial year they would have spent 10% of their GLOBAL budget on Otto's SC55.
With so many other prospects to compete with around the globe ??
C
bhp perspective
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