re: still trading heaps - ian Gorgo,
$5m goes a fair way in this business.
For example, it would buy you 50% of a 4 well onshore program at 3:2 (ie you pay 75% of the costs to win half of what's found), or it would buy 50% of a shallow offshore drill at the same rates.
Alternatively, it pays for 4 serious seismic programs, and a bit left over.
Ian Whitchurch
still trading heaps, page-10
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