Dargie,
Well the way I see it companies like BHPP don't farm-in unless they see risked value several times their outlay.
So just to keep numbers round (and low I know), if BHPP spend 40 mm on the drill, then that's equivalent to 35 mm or 5 cents per share to us. Given true drill costs and allowing for BHPPs premium to outlay then it surely makes the "BHPP percieved" risked value to us north of 10 cents ps.
Anyone for a sub 16.5 cent sp in the probable event of a duster? no I thought not!
As for WPL, seems by farming down they no longer see the permit as part of their Pluto strategy.
Never mind perhaps one of these freebies will hit the jackpot, hopefully BD-1
EL
Dargie,Well the way I see it companies like BHPP don't farm-in...
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