"...Nidos cash postion climbs closer and closer to $50m..."
Cash at end Q1 $13.03M,
Est revenue Q2 $??.??M
Est outgo Q2 $9.91M,
Declining income asset,
First oil from Galoc phase II not til mid 2013...IF, everything goes to the timetable they've specified...when has it?
Here's some points I'm just going to put out there, perhaps for the benefit of discussion.
When did the mob costs for a suitable rig to drill SC63 go up out of economic range for a single drill?
Answer is, they haven't moved much. NDO would've been aware the whole time what the ballpark mob costs would be. Weren't the funds for the SC63 drill already appropriated according to Phil?
I think you'll find that NDO/PNOC-EC were always hoping to share the mob costs with another operator, perhaps RAI when they were supposed to drill Cadlao Q4 this yr (and that could explain NDO's contact with them earlier this yr), but Cadlao has gone by the wayside, and there's nothing else on offer.
Viking bringing a JU in to drill the proposed SC54A development might have been an answer, but we're still scratching out heads on that one...is NDO?
If you think that next yr when/if they drill Galoc ph II that they could use that rig, it would be a semi sub or drillship...a bit expensive to use where a JU is OK, especially if they intend to do Laawan as well.
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