RE: GOLD18 Mar 2023 20:55
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Hopefully he hit is target and quit...
A good lucky run, over confidence, over commit and your wiped out..
At my early stages, for everything I get right, I get punished on something else..
Just for comparison, drilling costs, £5.5m difference, for similar wells, both gas..
PRD, raise £2m for MOU-3, on-shore, 1500m TD
He1, raise £7.5m for Tai, on-shore, 1500m TD
1.MOU-3 drill to 1,500 metres 1,800,000
2.MOU-3 civil engineering 130,000
3.General working capital 70,000
4.Site build, (nothing entered, maybe civils)
· Formation evaluation: ?
· Drilling ancillaries: ?
· Tax: ?
1a. Drilling rig: £2.07m
1b. Drilling services: £0.75m
2.. Civils: £0.36m
3. Additional working capital: £0.99m
4.
· Formation evaluation: £2.05m
· Drilling ancillaries: £0.35m
· Tax: £0.88m
PRD, milking it... ?
MOU-1 & 2, unfinished moving on to MOU-3...
Another Company Directors loan to help fund drilling
>Loan at a rate of 4% (four percent) above SONIA of the principal sum lent of £1,147,500,..
Thats an overnight rate, so is this a daily interest payment, maybe
>The default rate of interest under the Stock Lending Agreement for any sum which is not repaid when due is 12% per annum.
Sounds like a further charge if any part not paid on time..