Re the Varn project:
Quote from Ann: "The up-front acquisition and development (ie drilling of 11 wells and all infrastructure
required to produce) cost is US$5.61 per barrel. It is anticipated that this will be paid out of
existing cashflow".
Can anyone explain how the $5.61 is arrived at ??
Is it based on expected BOE, which is 1,000,000 barrels?
I wish the development cost expectations is shown as a figure.
thanks
Ann: High Margin Oil Production in a High Oil Price Environment, page-4
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