Oil&GasInvestor nice post.
These 4 wells cannot be horizontally drilled, tested and completed for $10M each. More like $15M all going well and that never happens. How many drilling problems have we encountered in the past? Anyone recall?
They reckon a horizontal into Ooraminna for $5M cannot be done. A vertical maybe? but not horizontal. Which lawyer came up with this figure?
Bogus!
This is why suddenly we are hearing just 2 wells to be drilled.
Now drilling our worst 2 wells with a low probability of success compared to Mereenie is very bad and likely to result in failure which the market will punish.
Ann: Quarterly Activities Report & CashFlow Report, page-29
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