Yes thats correct DB I think the CNE budget , which went from $US 95mil to $ US 130mil, will have contingencies and is probably for three fully tested and cored wells , as you say includes 3D plus mobilisation costs...
At this stage SNE 3 will only be tested if the reservoir quality is good and it hasn't been decided if they will core or test BEL 1, that will depend on what happens at SNE 3 and also the Bellatrix formation...so costs could vary a bit..
As CNE have stated they are front loading this program to get as much info as possible early on so developing can be cheaper going forward...
Cheers Whisky
FAR Pre-trade 5th January - the birth of an Elephant, page-60
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