Gwenny was drilled by BHP, Idris is the proposed appraisal well. Think Gwenny was estimated to have enough to cover costs.
My thinking - chance of success at Idris was previously given at 40% owing to what was drilled at Gwenny. So even if you have to give away 80% at P50 = $1B x 20% x 40% = 80m or 15x current market cap. But in reality the scenario is either $0 or $200m for Idris (i.e. excluding any new vend)
Gwenny was drilled by BHP, Idris is the proposed appraisal well....
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Mkt cap ! $4.944M | |||
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