Interesting to note committed expenditure for exploration and evaluation for their leases. This is $1.5 million expected (roughly amount they are desiring from the remainder of the KBC loan); this value was $1.34 million @ 30th June 2023.
Also note VENs same committed value is $3.4 million (however they have numerous more exploration leases).
Is the rough cost of 1 well $6 million (i.e. $1.5 M net to MEL and also about $3 million net to VEN)? Maybe Odin 2 well announcement is near?
Ann: Half Year Financial Report Dec 23, page-6
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