I'd say $15-20M, which by my estimates would take total well costs to about $70M.
NEN's share would be ~$9-10M, which may or may not be reduced by any PVn rebates from a back-in scneario.
ENI has passed the stage-gate; wireline logging, including the pressure testing and sampling has confirmed the mudlog log indications. They are now designing the production programme. The picture is becoming increasingly clear to me.
The sit-down with KC last week would of centered around the agenda items which I put up - i.e next steps; production test or not. They wouldnt have made this assessment based on the mudlogs from the overpressured zones (4). They MUST already have a good idea of whats down there.
Watch the slow and steady accumulation over the next few days.
NEN Price at posting:
29.7¢ Sentiment: Buy Disclosure: Held
