Justinmetals here is quote from recent post by O&GInvestor:
"Mereenie – 2 appraisal wells - $10m (assumed total cost $20m, split with our 50% JV partner Macquarie)
Palm Valley – 1 apprasial well - $10m
Ooraminna – 1 appraisal well - $5m"
From what you told us both Mereenie wells are horizontal. It appears ctp are saying $10M for a horizontal. You also indicated that both PV and Ooramina are vertical. Ctp is saying $10M for PV and only $5M for Ooramina.
Why is PV so expensive for a Vertical? Just testing you a bit here if you don' mind.
Ann: Quarterly Activities Report & CashFlow Report, page-35
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