I thought spud in September was to meet our statutory obligation to the kazakh goverment or forfeit our lease? or pay Biscra to extend.
Mljet seems to think at 4.2c a cr would be at 3c. If we can hold where we are we might be able to get 3.2c? Hard to know after so many got burned last time.
At 400bopd and a cost of $6mil, with profit of about $35bbl, J50 will have a greater than 1year payback period. Thats not good by any standard.
If you add to that the 90day production testing and the extremely slow drill, J50 has been shocking.
something up?, page-132
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