Yes same structure, GGX are being conservative with 20 number.
Population in Christchurch (I live here) approx 400,000.
If oil is found then it'd be trucked to lyttleton (50k's) then shipped to either Marsden (Auckland) or east coast Australia - so IGV would still be $20/bbl.
Interesting to note that the Geo's that did the soil samples and site survey are holders in widespread energy (they have 8% equity in the drill) - be interesting to know if they hold GGX shares as well.
GGX must be fairly confident to increase from 40 to 55%.
Yes same structure, GGX are being conservative with 20...
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