Cheers for that SL, had a bit more of a read up this morning and see the figure of $500k/well, seems very low given that most in the area are closer to the $4m mark however looking at the drilling set-up and considering that management are taking a hands on approach I guess it is possible that they get the costs down significantly.
It appears that the recent rights issue provides the capital for this exploration program but they need to get oil to keep their heads above water, given that the neighbouring operators have had a successful campaign with 21 productive wells the probability of the ground being productive seems high.
Whats your take on production testing timelines? Looking at the set up and internal operations strategy I would assume that they will not be flow testing until all completions are finished, then hands on sequential flow testing.
AKK Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
