OEX 20.0% 0.6¢ oilex ltd

CR with Darwin, page-17

  1. 23 Posts.
    Blackhat forgive me for my copy and paste job as my reply is from another forum, but i think it covers somewhat what you have asked

    Looks to me as if Darwin was implemented before plugs were due to be milled out ,as there were plenty of cries of manipulation from the last couple of Fridays before we had the news of a successful mill out.
    Ron's contingency plans must have been to cover all bases just in case. Imagine what would have happened if we needed to use darwin if another mishap had happened dilution would have been massive.

    So have we gone over budget on the drill? or do we now have $6mil to play with. I would have thought the latter as any down time was due to the contractors equipment failure other than a couple of hiccups all went to plan.

    So any ideas on the cost of taking both wells to production? Pipeline costs? As gas agreement is now in place.
    $6mil would cover another drill, but i guess we would definitely need options in the money to provide breathing space for any over run. After all the rig is still on site.
    Funding for an independent reserve assessment taking into account data from wells 73 and 77h I see as a must. Simply because Magna look as though they may make a bid and we all want to know what we a sat on given the latest data so a more accurate value maybe determined.
 
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