RE: 12M pay column hailed as success20 Jan 2022 08:19
market makers got this wrong
how come this is commercially successful??
The Amokura-1 well, drilled off the Taranaki coast, looks to be a great success, with discovery of a "12-metre gross oil column" announced to the NZX yesterday morning.
NZOG, which has a 12.5 per cent interest in Amokura-1, says the well, expected to cost between $15 million and $20 million to drill, has the potential for 15 million to 35 million barrels of recoverable oil. At current prices, 25 million barrels would mean gross revenue for the well-owners of about $1.2 billion.