RE: PMO's $23m27 Feb 2020 00:07
The drilling operations are managed by 88e so you can bet that the full $23m pmo cash will be used, no question. The question is if we go over will we pay out extra for say HRZ data but assuming no drilling issues this should all be covered.
Pmo are committing to the whole project, not just the first drill. The second appraisal drilling and development will be in the hundreds of millions. we are lucky to have them on board, they make a lot of revenue and run tight projects. the conventional target here is a really good fit for them and they are a really good fit for us - allowing us to take the lead on the drill.
DW needs a win, 88e needs a win and I need a win, I’m sure you all do too.
I’m excited that we have such a good range of targets, nothing could be better for our average then testin FB all the keg zones. My only concern is that the well has been positioned for stellar and isn’t in the sweet spot for the upper targets, I hope the market doesn’t get hung up on any issues there. I was going to sit out until the initial results on the upper targets as I felt they might not be good but with the SP so low didn’t seem worth the risk in waiting.
Finally the HRZ core will give us some great data and help pinpoint the next drilling target for the unconventional assets, I am sure this is only a soft farm out until those results are in. Then it will be full steam ahead on HRZ, 3D across our other zones and planning for the next lot of appraisal wells with a possible sale on the table. That’s how I see it anyway. (and Yukon yes I know but no idea what will happen with that one), March is the month 88e makes history!
Sign In
Follow the stocks
