Whats the cost of the next well, with downhole testing and piloting, say ~14million? so say ~7/8million each, looks like the JV is in a good position to complete the next phase of work.
From reading WGO's last announcement suggests that they are focused on only the one well and independent resource reserves booking. Both parties have enough money to complete this work. Then I guess if they move to more wells, process equipment/plant, piping (gas to market) both will need to raise money. Sounds like WGO is suggesting they will do that on the back of proven reserves.
I would suggest neither JV is going to capital raise on this basis until after the reserves booking, 2H 2020.
Anyone heard anything on the Ocean Hill farmin in release? any parties getting interested or is STX going to have to go this alone and find additional capital or attempt to delay with the regulator?
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