Hi Ari,
I found this on the BUR website with regards to Woppa:
"A 6320-metre well will be required to test this structure, with a completed well cost of the order of US$15 million. We intend to farm out a good portion of its cost in order to concentrate on Heintschel development and other Wilcox and shallower targets"
From other releases you can see that D.Truchard was drilled to 3658m (for a price of ~$US1.5m) and Heintschel 2 was drilled to 3627m (could not find cost). So it would seem they have to in fact drill some 3000m deeper than before to reach target it Woppa.
So judging from that US$15m figure for the well cost, even if BUR did increase there cashflow from development of the Heintschel field, it would be way too big a risk for them to take on 100%.
Cheers!
Hi Ari,I found this on the BUR website with regards to Woppa:"A...
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