Hi Wasa, As a layman I'd think we can look at $100mil per well...

Hi Wasa,
As a layman I'd think we can look at $100mil per well (but that would now be at the very high end as a result of over supply of rigs due to cutbacks on capex of many comps). But even on that figure, FAN would be in for 15% which would equate to approx $30mil for 2 wells. So we should be adequately covered. BUT they talk about a SERIES of of exploration and appraisal wells. That's where Mr Tim's job (to seek funding) becomes relevant. Of relevance I think I speak for many investors when I posted this post in November and would like to reiterate that sentiment:

http://hotcopper.com.au/posts/14280124/single

Cheers