Question to MSMN holders on MEO Forum

Hi Oilfield , used Moggie, et al.....
From MSMN resource update.

	Column 1	Column 2	Column 3	Column 4
0	18-Dec-14 10:34	RNS	Corporate and NZ Resource Update	Company Announcement - General

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9
0	Cross Roads-1
1		OIIP Estimate (barrels)	Contingent Oil Resource Estimate (barrels)
2		P90	P50	Mean	P10	P90	P50	Mean	P10
3	Lower 8Mile	5,672	41,071	135,822	297,376	850	5,808	15,459	39,713
4	Cobden	3,068	15,362	33,910	76,914	623	2,975	5,770	14,197
5	Total	8,740	56,433	169,732	374,290	1,473	8,783	21,230	53,910

What you are testing via the Cobden formation on crossroads is a P50 mean of 2,975 boe recoverable.
P50 is industry standard....... it is not the OIIP as that is not known and is nothing more than a best hope.
The other formation I believe was  found not to be commercial bearing...(please correct me if I am wrong)
So at $ 53 per barrel ( based on WTI) not Brent .... you have $ 157,675 of potential income ( 53 x 2,975) from the well. Minus running costs and operational costs... which would be at least $ 10 k per month...
Please advise us the well drill cost here and how in your view this will be commercial....I really cannot see by the Data how it can be anywhere near commercial... I have seen mooted by MSMSN holders on other BB`s that you need 12bbl a day for commercial , really this is $ 600 a day of income minus your capex and opex...What school of Oil and gas economics are all these assumptions based on... ?
I have never seen a well drill cost less than $ 500k, even a straight forward land based low depth vertical one such as this, plus you have 60 days of testing on top of it..... plus the nodding donkey plus power and generation... obviously your director is there as chief Ramp Meister general with his iphone taking videos of oil sheens and a reciprocating flow head,  to fervour the MEO take over, all on his annual salary and this wont be adding to the well cost.. granted...
Please advise MEO holders how based on these figures, this is going to propel MSMN to glory ..... I have run the sums numerous times and see nothing here that could even be remotely resemble commercial.... ?
Is this what you want MEO`s cash is for ?
Many thanks...