I have lost loads on this over past few years and now a slight up tick. Is it just a big hole in Australia , or does it have any worth ??
Caza up a bit and oil flowing. Will next week be better?
Nyota MInerals have been waiting for their Large Scale Mining Licence for some 8 months....but the new Mining Tax Bill should become law imminently, so allowing the Licence to be issued. Back in Nov 2012 the Mining Minister agreed that Nyota had fulfilled the requirements for the licence to be issued. With Centamin having 19.99% of Nyota (the max under ASX rules prior to a takover/bid) NYO looks very interesting at the current sp.
NTO has leased sites were the big are investing millions of $ Dollars.to lease land.
To finish this well should not be more then 10 to 15m , if it is engineered correctly,TD is only a couple thousand mtrs, six weeks drilling,if they fail to break through the salt they will abandon well , cost rig hire, some tools & bit,all the expensive stuff is done.Not sure where the 20 to 40M comes from.As for a farm in agreement Max will not give a controling share away,more like 60-40 and even that might be to high based on what might be down there.
Hello Astrognat, this is an interesting one! I will investigate this now and see if I can get it going