RE: RE: Good News Tim
What you are missing here is Simba could do 2 drills for 5 million. If a major would do it it would cost them 10 times as much.
A similar scenario would be a High street shop who would spend Millions on building , fixtures furnishings lighting crew equipment etc. Simba does not need to be so etravagant and act like a little high street store where they can have the end product at a lot less cost than a major would. I guess 15 -20 million would have factored in the asett alone and all the work and the coming 2d seismic.
20-30 million for 2 drills.
Simba could get a used land rig for next to nothing or even lease a used land rig and there a hundreds in the states. Jim D has many contacts and he should be able to source 1 on the cheap knowing the contacts he has.
We are not desperate for a JV because we can go this alone. Well done Simba. JV has to pay to play with Simba ;-))
This is the beauty of hunting elephants onshore , it can be done on the cheap and with masses of potential.
Roshene hats off to you on this 1 cos you did say lets go this 1 alone a while back and it seems like they were listening. Why give up 50% for less than 40-50 million?? No point when you can keep 100% and drill a potential elephant.
ATB
BR