Basically posting to hear Bhutos thoughts, as I have found that...

Basically posting to hear Bhutos thoughts, as I have found that die hard OBL holders seem uninterested in simply talking about the stocks realistic situation....

So OBL plan to farmout the Derby block before Dec 31st, this year, otherwise they loose the ability to farmout the full 50%, which means they are under a great deal of pressure, also they clearly state the deal must fully cover them and REY for at least the first 2 years of the work program plus back costs... not that they have done much, but sure why not.

2 Year - Seismic both years - minimum cost approx $8 million.
2 Year - 2 Deep wells - minimum cost approx $16 million (but that does not include testing.... which could add another $2-3 million per well)
Total range - $24 million - $30 million.

OR

6 Year - Seismic - minimum $8 million (but possibly much more as thats only for the first 2 years)
6 Year - 6 wells + testing - $48 million + testing of $12-18 million)
Total Range - $68 million - $74 million.
(could be another $10 million in seismic)
(As for the back costs, perhaps another $1 mil)

The above are all just rough guessimates on my part and I urge those who have a serious interest in the stock to speak to the relevant people to get a full understanding of the costs etc.

Basically, I am just wondering if there is any way in hell OBL are going to be able to get a farmin partner in less than 6 months that is willing to pay the above??

Thoughts Bhutos?
(of course if they were to achieve any of the above, I would happily buy a few shares at the current price)