valuation, page-4

hope2

Thanks for the reply.

Hopefully they drill this hole for a normalised cost of about US$21,000 a day for 90 days = US$1,890,000 plus work over rig US$7,000 a day for about 60 days = US$420,000.

Total $2,310,000 without any hold ups, stuck pipe etc.

A good strike of 2 MMcfd of gas in Para#2 and the costs would be paid back in about 6 months max.

And they have enough cash to do this.

Thats why sp is good to go higher imo.