Rabbitou, how much is a fair bit? NWE only has to pay 5% of costs. The first two appraisal wells cost $8.7m in total. The JV is drilling two more firm wells and there are three contingent wells. The firm wells should cost approximately the same as the first two appraisal wells, leaving NWE with a $435,000 bill. NWE have $1.1m in the bank so I'm wondering why you think the oppies will get much cheaper.
The only reason NWE is so cheap at the moment is because they aren't drilling until Jan. In a few months the share price and the oppies will make their inevitable run up.
