LIO
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4.55% 2.1¢ lion energy limited

still trading heaps, page-10

  1. ian_whitchurch
    2,834 Posts.
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    19/11/04
    11:19
    Post #: 664831
    re: still trading heaps - ian Gorgo,

    $5m goes a fair way in this business.

    For example, it would buy you 50% of a 4 well onshore program at 3:2 (ie you pay 75% of the costs to win half of what's found), or it would buy 50% of a shallow offshore drill at the same rates.

    Alternatively, it pays for 4 serious seismic programs, and a bit left over.

    Ian Whitchurch
    LIO Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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