Get this last well out of way and off load the rig hopefully then we might see some tasty profit coming our way. Could we go alone on nur 1 with the right rig contractors unlike the last ones who just milked us dry.
Personally I want them to gamble what's left of the company to finish NUR-1 since the current SP for me is not much differerent to losing all my money, so risk vs. reward at my current losses would mean it'd be better for me if they just tried to finish it, even if that meant ruining the company if the result was a failure.
I doubt it will be drilled though, there is no farm-in partner which means Max have to find $20-$25 in the next 6-8 months. 6000bpd isn't some magic number that will allow them to do this, most of Max's asset value will be going towards paying their debt and keeping the company running. They'd need to save $2-3 million a month for the next 6-8 months in order to self-finance NUR-1. They just don't have the capacity to do this. At one point I thought they might be able to borrow it against future production but then they posted their 2P update and I realised they just don't have the oil in the ground to be able to do this.
Corporate update does not suggest Nur-1 will be drilled..
The Company intends to maintain the organisational capacity to resume drilling its NUR-1 deep well while efforts to obtain financing continue. Negotiations with prospective partners are, however, no longer currently in progress.
No financing !! No drill. Mxp fluffed the drill twice and failed. Cost us £50 million for a hole. Finance this and fail again will be terrible..
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