So BKP has 25% free carry for 500 mtrs of horizontal drilling once they hit the prescribed 770mtrs depth.
If they drill 100mtrs in a day it sounds like once they hit the arthur creek shale zone (770mtrs)... BKP will have about 5 days worth of free value.
If they don't find anything in that 500mtrs does PFC have plans to drill further?
If so would they have to consult with BKP first? As then BKP would have to find some money to fund their share of the costs.
Because of the 75km2 exclusion zone that BKP has around EP 127. It would be in BKP's interest for PFC to drill that zone first so they get maximum value from their free carry.
Anyone shed any light on my questions...
BKP Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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