OMR,
$US40M is for to wells, being Jeruk 1 which did not complete because the drill got stuck in the oil zone, and Jeruk 2 which had to be sidetracked also because of problems. Although the figure is approximate, it comes from a very good source.
I am also lead to believe that the payment of the amount would come out of production income, whereas the original cost of drilling the well would have had to have come out of cash reserves.
As I indicated in my first post "Lets assume it is all recoverable. Obvioulsy it won't be, but let's assume it is.
". This was purely as a starting point for the mathematics. Note that I divided the whole thing by 10 later on, to bring it a bit closer to a possible scenario.
Obviously it is all up in the air at the moment. Something to post about, that is all...
OMR,$US40M is for to wells, being Jeruk 1 which did not complete...
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