Slampoil I am sure you can estimate the possible cost over run.
""If the rig cost say a million a day and it took 100 day to drill and the farmin cap = 25 million leave 75 million cost over run and NEN has 25% so the extra to pay is
USD 18 million or so.
No you can fiddle with the daily cost amount and present a range which would be say between
USD 10 to USD 20 million.
Not hard and there no reason NEN did give us a possible low and high ball case.
PS Most daily drilling reports have a column showing the current cost of the well.""
Great post mate and anything reported would have been better than nothing at this stage. I could be wrong but silence is deafening, i think this is a sell until costings are out and if it as sampoil states and i think he is on the money then the company will i think need a CR urgently. Do i give a toss about these ST spruikers who have lost money? not one bit, but the LT holders it is sad, and what is sadder is these DT ST punters will destroy the volume seats and the SP i think. DT punters move along fast, well i guess they are as they are dumping stops faster than ned kelly bbbbwwwahhhahaah happy about that.
NEN Price at posting:
4.1¢ Sentiment: None Disclosure: Not Held
