TEG Cheap, page-197

Few points:

The application was re-lodged 4th Dec and sat at "Awaiting Assessment", extension requested by department, status "updated" 23rd Jan to "Awaiting Assessment", and then as of today, status updated to "Being Assessed". 

Earliest the 3D can start is 29th April as they've committed to avoiding the school holidays. 

As far as I'm aware NWE have been splitting costs since the drill as funding Xanadu-1 was the farm-in cost for the other 3 parties.

Given their limited bank and cash flow NWE are the most incentivised party to rush the drill, rather than fund further exploration and yet they agreed with the other 3 parties that 3D was the most prudent approach. 

Mentelle-1 was drilled with poor coverage and abandoned but more recent seismic data (ex-industry) suggests if they had of invested in the exploration data first the well would likely have hit oil. Still high on TEG's to-do list I believe and expect to hear more if cash (GAS) becomes more readily available.