ZMM 11.1% 1.6¢ zimi limited

I don't think an estimated drill cost has been published for La...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 578 Posts.
    lightbulb Created with Sketch. 84
    I don't think an estimated drill cost has been published for La Bella.

    As things stand right now there is a 2 well commitment to satisfy the license requirements.

    Currently WHL is the operator of Vic P/67. If the final 3D interpretation is good and AWE elects to proceed to drill, it will become operator and will have to cover 60% of the drill costs. This election must be made by mid 2014 i.e. quite soon.

    Tap oil also has an option to take 10% equity in the field. It can increase this percentage to 15% if it elects to cover 20% of the drill costs.

    So, in summary, assuming AWE proceeds to drill and Tap exercise it's options the drill costs breakdown as:

    Equity Drill Costs
    AWE 60% 60%
    Tap 10-15% 10-20%
    WHL 25-30% 20-30%

    WHL has also indicated that it might be willing to sell down a further equity stake so good finals 3D date might see another partner get involved in sharing the costs.

    Not a direct answer to your question, but I hope that helps.
 
watchlist Created with Sketch. Add ZMM (ASX) to my watchlist
(20min delay)
Last
1.6¢
Change
-0.002(11.1%)
Mkt cap ! $6.019M
Open High Low Value Volume
1.6¢ 1.6¢ 1.6¢ $500 31.25K

Buyers (Bids)

No. Vol. Price($)
1 66666 1.5¢
 

Sellers (Offers)

Price($) Vol. No.
1.8¢ 443172 2
View Market Depth
Last trade - 16.10pm 15/11/2024 (20 minute delay) ?
ZMM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.