The cost of the boat and the personal will be about the same; however, I agree the 3D and 4D equipment will be slightly more. Interpretation of the data believe it or not is a great deal easier and more reliable.
I just think trying to save a few dollars on the exploration would be false economy.
It’s not like there are no PEP-11 runs on the board to check back on historically. In 2010 DB was even giving estimates of the gas to be found in the sweet spot their extensive research indicated the precise spot to drill. I hear various costs for the drilling between $20M and $30M for the shareholders at the time and whilst I can’t accurately confirm the drilling cost I can confirm the drilling results it was a disastrous failure / Duster!
I notice many of these PEP-11 2010 related stories have since mysteriously disappeared from the WWW, funny that! However, a diligent researcher can find them still.
“Advent Energy Executive Director Mr David Breeze said the drilling ... Gas In Place (OGIP) estimate is 6.09 Trillion cubic feet (P90 = 1.77 Tcf, ...”
Still if you and other shareholders don’t mind wasting money on poor quality surveys and drilling in the wrong spot as I no longer hold shares I guess it’s not for me to complain.
Good luck with it all.
Cheers and very best regards: Andy
MMR Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
(20min delay)