Squire I don't think 3m will get us that far. The total cost of...

Squire I don't think 3m will get us that far. The total cost of this well will be something like $10-12m. It's a DEEP well and needs some specialized gear because of the massive gas pressure down there. Having said that though a large portion of that cost is already paid (in the order of $6m I think) and it will take about 3 months to reach total depth so it's entirely feasible the driller can be paid in tranches as we go. So I do think a short term start is on the cards. But they'll need more cash between now and flow testing.

On the other hand there's a couple of other very interesting shallower zones to pass through on the way, including a conventional oil zone and (from memory) about 700m of shale.