30% for $50 million would be WI % payment only.
There would likely be another 40+ million in back costs....probably more.
100 million to spend on drilling and flow testing would probably give us 3 wells + flow test + 3D
I imagine all potential farm in partners will want to get all the running room. Its actually been quite fortunate that we haven't made a discovery and had these leases rolled in to one special grant. It does enable SM to do a deal excluding them but I'd guess that would probably be a deal killer for any decent dough.
The above might have something to do with the zero info we have on the eastern leases......not showing his hand too early.
30% for $50 million would be WI % payment only.There would...
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7.1¢ |
Change
-0.001(1.39%) |
Mkt cap ! $100.6M | |||
| Open | High | Low | Value | Volume |
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Sellers (Offers)
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| Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Change
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| Last updated 15.59pm 30/04/2024 ? | |||||
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