The two wells would have cost around $15m each, so basically KIK paid for Yakal, and NDO paid for Tindalo, which is how it would have worked out under the initial JV agreement terms.
Now you could argue that a $30m spend on an SC54 outboard deepwater well could have turned up more oil than these two shallows, and that would be true, except there was no outboard target with anywhere near the same COS as the shelfal area.
This was a prudent decision which will soon deliver more cash in the bank, and we still have 20+ targets in the area.
back to 10c, page-42
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