A few considerations :
The drill per se is approx US$25m (our 20%extra US$2m)
The development costs at hazard guess US$130m-US$160m
(our 20% share US$26-US$32m). Now I would guess most of the financing would come from more debt.This would bring into play the state of debt still in play at Galoc (look closely at the prod figures each quarter)PLUS the forthcoming debt at West Linapacan Development. Bank will require some sharing of the risk by NDO so this time it may mean a CR. If this eventuates, I'm sure we would oblige.
Why would anyone want to sell now ? Risk management.
why would anyone want to sell?? now!, page-2
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