Can you please provide the source so that it can be helpful ? On-shore drill costs depends on many factors and cannot be generalized and 40 million is on very high side.
Some of the factors that determines drill costs are
1. Target depth to be drilled 2. Type of Surface planned for drill 3. Drill rig type to be used 4. Availability of rig and drill contractor 5. Number of drilling days and man-power planned 6. Transportation of drill rig
Remember, Swala would need to finance for its W.I of 32.5% only and if TPDC decides to opt for back-in rights, they would need to re-imburse all costs incurred. I would not be surprised if we farm-out part of W.I in our licenses and opt to free carry on many of the prospects which means less/no dilution of shares.
SWE Price at posting:
32.0¢ Sentiment: LT Buy Disclosure: Held
