follow up volume, page-86

They really need to be a bit responsible, or rather a lot responsible. Let's hope their financial management has improved , but even if there is a 10% blowout in the cost of Phase 2 that would mean another 4.3mil Nido would have to cough up to get that over the line. 20% blowout and they are up for an extra 8.6 million$. I am hoping they have that put aside just in case.
A farmout of the whole sc would be preferable but I can't and probably wouldn't like to see it for just one hole. They only require a jack up for Baragatan but all the other targets I think require a semi sub. Means any partner would need to bring in two different rig types. Not ideal for the partner but not ideal I suppose.
It's impossible to see Baragatan being drilled before Oct or Nov given the risk of cost blow outs if they are still going it alone and don't count anything in from Phase 2 production to help out with Baragatan. First oil expected Dec with no sales of first lift would be booked until Jan 2014.