PKO directors should not have chased finance from lending institutes, but should have gone to oil producers such as Viking and Risco when they had the chance.
For general info, Jacka's recent Tunsia exploration well and near horizontal offshoot is 3300 m from sea bed; Cadlao is only 1700 metres. Jacka's has cost around $70 million.
PKO Cadloe proposes 2 main redevelopment wells (4,5) plus a smaller third one (6). Do you get all of that for $50 mil?
What is a reasonable cost for the first redevelopment well to 1700 plus say a 70 metre near horizontal offshoot?
Or will pending CR beat PKO?
PKO Price at posting:
0.7¢ Sentiment: None Disclosure: Held
