so 50mill is needed for 3D seismic and first drill hole... not sure y they didnt wrap up the farmin with afren before afren went and did its 3D... strange one that is :-((
but either way... for partner coming in and paying the full 50mill, i would give them up to 75%..
for farmin partner to pay the 25mill 3D seismic, i would give them up to 50%... cos 3D seismic is ALWAYS very very good news... it produces statistical blabla about the most amount of billions of barrels of oil they might have in the ground, and usually puts the announcing company one very big level higher in sp value than where it was... so then after fully paid 3D seismic, whn can raise the 10mill (50%) of what they would need for 1st drill hole in this scenario... seeing that they will have La Bella seismics and Palta drill result info by then...
QFY Price at posting:
2.6¢ Sentiment: LT Buy Disclosure: Held
