gibraltar - strait oil and gas, page-23

If you read the ann closely it says.
Range will complete Phase II. USD$4-5 mill.
It just depends on what the agreement is. Until then we are all guessing.

Under the terms of the agreement, subject to standard due diligence, shareholder and regulatory approvals, Range:
• will complete Phase II under the relevant Production Share Agreement (PSA) applicable to the blocks, consisting mainly of 350 sq. km of 2D and 3D seismic and well selection. Budgeted costs are between US$4-5m,