Scorpio 11, that is correct. In addition, they got a far better exchange rate than originally planned for the drilling of the second well (US$ V AU$)so you will find that JPR are well within budget and need no funds prior to option conversion. In fact they can also fund the next well preparations and operations with cash at hand and still have cash to spare.
Once the wells are confirmed, they will then also have access to bank funding should they need it. UK funds will also be able to buy in at that point as i understand it.
Scorpio 11, that is correct. In addition, they got a far better...
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