Bignote/R15 & all, imo it may be worthwhile having a look at the...

Bignote/R15 & all, imo it may be worthwhile having a look at the McM well as I believe it to have been a significant discovery with many technical challenges, I think the 3 main ones are Davy Jones, Lomond North and Lineham Creek. Imo 75mmcf per day is large and in boe terms works out (using energy content) to be 12,930 boed. FYI see Gas volume converter.

For GGE mgt to have progressed this project in house is a major achievement for a small O&G junior. Meanwhile the 4 existing wells appear profitable at $60/bbl and low admin costs provide a good platform for future growth.

The La Posada well provides some support for the target numbers, (we had 4.75% WI in before we sold) and is currently producing at rate of around 9,875 boed. (ie. 1,049bbl/d oil 57.3mmcf/d), that is after a little over 3 years consistent prodn. see: THIBODEAUX

Re cost, my guess only is we would look to farmout to spread the cost and risk, imo you are correct that the well would be expensive and the WI ideally managed to ensure the cost fits
our capacity without creating unmanageable risk, imo the cash mgt over the past provides evidence that the team here are more than capable of managing this.

best wishes to you guys, it's a "lonely ol nite" on the GGE forums these days, but never dull at the library.
Cheers

PS: all my opinion only