Hi Bodgea, When I mentioned "Don't forget the setup costs, rig...

Hi Bodgea,

When I mentioned "Don't forget the setup costs, rig transport costs and demob. costs when assessing TPT's spend." it was in the context that these are fixed costs regardless of whether the drilling takes one day or one hundred days.

If the drilling is a few days less than originally planned then that may mean there could be some money left over, however, it is also possible that GALP/TPT contracted the use of the drill rig for a set number of days (say 50) with any days required beyond that being part of their contingency budget. So, as I see it they could be locked in to a drill rig cost of say 50 days regardless - it depends on the contractual arrangements agreed at the outset. I don't expect there will be as much cash left over as some have suggested. (IMHO)

DYOR