invertedva - the cost was put at $3m for our share of the drill costs (for 20%).
Reasoning for cash-strapped varies, but includes:
- spending on drilling, but not acheiving much, or wasting money trying to increase production (wasting in the sense that we are still waiting for them to drill the UK)
- high admin costs for low income
In short, spending alot of money and acheiving not much except for a 40bcf of gas in Tanzania which we now only have a share of 2bcf.
invertedva - the cost was put at $3m for our share of the drill...
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