Development cost of $1B is actually very good news.
Its a very cheap development cost; a little over $6 per barrel.
Most are priced between $10 to $15 per barrel, for development cost.
Given the low development cost, we would still be making Money even if oil prices drop to USD $30 per barrel.
And lets not forget we got light sweet crude with low sulfur, so our oil should fetch more than Brent crude prices.
Actually, I (as a shareholder) wouldn't mind participating in the $100M raise.
I think its a good reward for all shareholders.
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