By the way does anyone know where the $9mil figure comes from? As far as I was aware, the 1.5X well promote was capped at gross $32mil leaving us with $4.8mil plus 10% there after.
The $6mil installment would therefore give a gross well cost of $US44mil which considering the time frame sounds reasonable.
So would it be fair to assume that the remaining $3 mil equates to a further gross expenditure of $30mil. Surely they can't be spending it all on seismic calibration, reprocessing and remodeling? I know the data set is pretty big(95 2D lines and three 3D seismic surveys) but still that seems excessive. Any ideas?
By the way does anyone know where the $9mil figure comes from?...
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