ITC impress energy limited
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Mangrove,I dont agree on two counts.Firstly, Ventura will pay...

  1. ian_whitchurch
    2,834 Posts.
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    19/10/04
    17:34
    Post #: 620237
    Mangrove,

    I dont agree on two counts.

    Firstly, Ventura will pay back drilling costs, and then quite a bit. At $10k a day, declining a bit after 6 months or so, it'll pay back drilling in 6 months or so.

    Secondly, VPE was getting a carry on the first few wells off the other partners. Not as much of a carry as if Merlin had been involved, but the impact is greater on the partners, especially Entek (ITC may have come in at even money ... I can't remember).

    Ian Whitchurch
    ITC Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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