Jeruk2-st4 is an Appraisal well only. It's intended to test the 3d sesmic acquired a few months back.
The SPP run by CUE in May raised AUD$17.4M before costs with the funds dedicated to paying Santos re-entry costs of approx AUD $11M and to pay for the sidetrack, coring and testing.
"IF" jeruk proves to be a profitable find, then an additional 4 wells will be drilled late in 2005 early 2006
* An additional capital raising will be required to fund these wells. Obviously, if Jeruk proves to be profitable the SP will rocket and the additonal funds will not be so dilutionary, But if Jeruk doesn't come up to scratch, then CUE loses $17.4M
cue ~ the facts
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