4 substantial companies ...bodes well. Drill cost will not be...

4 substantial companies ...bodes well.
Drill cost will not be massive either due to ability to use jack up rig, MEO in the past been involved in very expensive deep water drills ... I'm reckoning circa 20 - 25 million to drill in current climate.
I'm bullish on Beehive, I've asked around, pretty sure of one of the companies and reasonably sure of another who have been in data room and are still reviewing , initial indications , it looks very good...
51 percent equity release for a free carry drill and a payment on announced commercial success would sound about right in this climate with the farminee taking over as operator.
Potential drill here in 2017 Around about time of our Cuban play hotting up ? - who knows eh...certainly do wonders for the SP.
I'm not sure though we won't have to 3D first, Maybe farminee will come in and cover the 3D costs on a lower equity release say 25% with an opt in or out after results to carry the drill at further equity up to 51%.
Just my views...