I believe that JJ said at the balls Bros event that our share of costs for each well is 4.5 mil plus any well test costs if successful. Just need Brian and the team to pick the right spot.
Going by the SP its not looking good at the moment. If TE-10 is not commercial then what happens. Do we raise money and drill TE-11 or just sell up what we have ?
Small tree shakes just so that the big boys can get in on the cheap. Worth holding at this price for TE-10 results. Limited downside but mega upside if good.
I think they will wait for the results of West Newton gas zone first. If good then they will top up with more good news from Cali. If bad then we will still have cali to take us up as well.
Even if TE-10 is not commercial we will have gained lots of info regarding the Tagi Structure. Fist is that we know that the gas will free flow from the top zone which will help unlock any future potential drilling with the help of seismic.