interesting costing.....never bothered looking before....regardless of your motivations....(that are VERY OBVIOUS btw)....this does raise some interesting points:
quick n dirty:
the reimbursement amounts imply a $82m - two wells drilling program. they paid ~$69.8m (85%), we paid ~$12.3m (15%). We now pay double, so if we had to do the same drills twice, our cost would be $24.6m instead of $12.3m (double since 15%->30%)....
whats interesting is the magnitude of how pi$$ed off I would be if I was Sonangol. Bad enough as a humble s/h, but if its roughly $41m per well....then SONANGOL have ploughed approx ~$98.5m vs our $24.6m on the 3 wells with AP antics to show for it....
$98m buys us out at the current share price. Does Sonangol really need our $12m contribution per well???
Smoke us out now and give AP the flick.....! come on Sonangol, you wont even notice the $500m......(15c per share!).....!
