RE: My thinking18 May 2026 12:36
My thinking is the offer ( if any ) is so low ,imho likely does not even cover full back costs.
Looking very likely , we are going to drill this well at our cost.
I mean , we wernt drilling SC3 and alll risk was going to be on contractor, we are now drilling at our risk !
We weren't drilling mou 6 , now we are buying all long lead items, which will be linked to our own well design.
And it does mean a lot, as any well design from a new operator would likely not be utilising the same tangibles that the raise is being used for, so yes imho, there is nothing of any substance on the table and on we go for round 6 at seeing if we can hit gas and extract it.
I will Spell it out , you do not spec and purchase long lead well tangibles for a new operators well design which may be designed to use completely different tangibles. !
The risk on here is now very high !