RE:RE:RE:New Presentation, Princess IRR 91%, NAFTA cash US$25-US$60mPrincess is not a resource play. There aren't nearly enough locations to put a dent in the debt. $837,000 NPV. So they spend $1.58 to drill the well, wait a year to recoup that, and eventually get out an extra $837,000. How many of those are they going to drill to put a dent in the debt?
They say, "development capital of $12.3-million will be directed to drill three horizontal Glauconite wells at Princess,"
So these wells are costing them $4.1 million each, not the $1.58 million in the presentation that you cite. And what kind of NPV are they expected to produce and what's the payout duration?