oil now articleKawa-1 well costs to climb by US$45M as drilling time takes longer than projected | OilNow
costs up 45m$, that is very bad to cgx, if successfull then no problem' funding will be availeable, but if not its game over and no chance for funding another well unless a f.o for a one well carry and maby closing the financial gap.
an active petroleum system was a given, looks like many posters dont understand the meaning of it, an active petroleum system was found at tanager, bulletwood, jabillo and sapote, all the small cap companies that were exposed crashed on results.
an active petroleum system is a good result for majors like total and exxon that are aiming for years of exploration with no budget issues looking for the right channels, but for small caps with no money its the same as a duster.
so we are back to 50:50 chance and that is encouraging but the cost is 45m$ extra so the risk is up from very high to a possible company killer.
all thats left is hoping for hit or for the more educated investors jump ship at this high sp and move to the solid fec that has the same upside on success with no downside in the middle term.