Drillers only tend to drill for equity when they've got no debt,...

Drillers only tend to drill for equity when they've got no debt, six rigs in the yard' and a bunch of guys standing round complaining.

Jeff Green (who had Green Drilling years ago) drilled for equity at Marvel Loch, and made an absolute fortune when the mine was eventually re-opened. He'd also bought the pub plus the old townsite, so he had all the mine accommodation, services and 24 hour a day meals and accommodation stitched up. That pub was quite a place to stay in those days: skimpies at 7.00am standing on the bar in high heels, pouring shots down the throats of one shift, whilst another shift was just eating their breakfast on the other side of the room.

I don't think the exploration drilling industry is quite back there yet..