Hello P1000,
Agreed, but again refer to the July announcement (PDF on this thread). This series of of commitments was part of the plan leading up to (what should have been by now) FID.
At about $30mil per well it is very obvious that the major cost to the Crux Project is the 8 Wells, currently 85% (NXS ) commitment.
Noting that they only mention the 1 exploration well (Auriga), the not mentioned 2nd well would be in the P41, Octans, which I interpret as being "sold", part of the probable $100mil talked of in the Financials.
Obviously the key discussions in the Sale will be the cost of .. and the continuation of the contract obligations for..
* SBM FSPO supply contract.
* Securing the Sedco Forex International Transocean Legend semi-submersible for the development wells.
If the Sale announcement addresses these issues (funding) ... the Crux Project should advance to FID, then (from an investors point of view) the wait has been worth while...
keeps the Crux Project real and somewhere near to schedule... value will follow..
Good Luck..
SharpE
Hello P1000, Agreed, but again refer to the July announcement...
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