re: statesman..waste of space can someone explain to me why neo spends 1.4 million on 2.5% and salinas spends 1.3 million to get 25%??
""Salinas is funding 50% of the cost of the well to earn its 25% interest. On a dry hole basis, the Company’s share of costs is estimated at A$1.3 million which will be funded from cash reserves of over A$13.0 million.
Partners in the South Buena Vista project are:
- NEG (Operator of the initial exploration well) 6.25%
- Ivanhoe Energy (USA), Inc 56.25%
- Salinas Energy Limited 25.00%
- Statesman Exploration 12.50%""
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statesman, page-9
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