The longer the drilling goes on the more derisked the project becomes and the greater the resource.
ENI on the drilling program at any stage can pull the plug, they have 50% of the play and up to $20mil are paying. Obviously at this point NEN will have to kick in however I am more than confident that they have found enough of a resource to get a hansom return from block 105.
We will do well with this and I can only see up side in teh whole program. Remember 105 was high risk as opposed to 120.
Add Indo and it all looks very rosy to say the least!
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The longer the drilling goes on the more derisked the project...
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