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Spitfire, current onshore drills cost max $4-5m each DHB, $7m...

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18/08/16

19:50

Post #: 18552588
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Originally posted by Spitfire ↑

There will be cash to drill Cuba and it won't be from an equity raise.
My reckoning $ 20- 25 million required for 2 deep multi zone onshore wells.
There will be no issues with potential players wanting a slice of this massive pie..
MEO HQ are very very aware of more dilution and the fact they need to move this play to the pointy end
Without further weakening the company or shareholders.
I expect some very sweet news regarding funding for the Cuba drills.

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Spitfire, current onshore drills cost max $4-5m each DHB, $7m completed,, see Sherritts quarterlys... not sure where you get $25m! These figures will reduce significantly when Haliburton is 'allowed' in .... perhaps $2m a poke. DYOR

MEO Price at posting: 3.9¢ Sentiment: Buy Disclosure: Held
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