HE1 just spent about AUD$15m on one well - extended well test.
They NHE had said maybe 6 months ago only $100k needed for a shallow well for the shallow free gas zone on some video using a cheap locally sourced rig?
So maybe if it's $100k per well 8 wells could be done in the remaining approx $2m in cash but there wouldn't be much left and if 8 wells can be done for $800k massively cheaper than the AUD15m HE1 spent on their recent ewt
So depends if $100k per well is accurate or not I guess
NHE Price at posting:
6.6¢ Sentiment: None Disclosure: Not Held
