RE: Big dump coming soon20 Sep 2023 08:15
These well pad level economics anticipate a cash sink for the first pad of some $70 million. However, allowing for potential cost over-runs on the initial wells, corporate overheads and the optimum development being based on simultaneous operations on the first two pads, management estimates are for up to $350 million of funding required to achieve financial selfsufficiency, as previously outlined. This figure also incorporates three appraisal wells on the Kodiak field prior to its FID, expected in 2028. The estimates demonstrate considerable flexibility in optimising the funding requirements based on the cost of financing and the Company's determination to minimise value dilution for existing shareholders between now and achieving financial self-sufficiency