Previously the burn rate with 5 rigs was 3m / month so 9m per quarter.
53m (31 Dec 2023) therefore would last 5.9 quarters to mid-2025.
CE said recently (March 2024) they have enough for an easy 12 months / 4 quarters, i.e. to March 2025.
That seems to imply they expect to burn an average of 3.6m /mo from Dec 2023.
3.6 * 3 = 10.8m per quarter
53m / 10.8 = 4.9 quarters
Dec 31, 2023 + 4.9 quarters = late March 2025.
A reminder, if you want a better experience of the forum, put @kevin103 on ignore.
Previously the burn rate with 5 rigs was 3m / month so 9m per...
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