In addition to the cash flow to be generated from the contract drilling operation, Sherik will sell up to AUD1 million in well equipment and consumables held by it to SPC. On completion of the SPC drilling program, it is planned that the rig will return to the Mailisu area to drill on the prospective East Mailisu licence area. This timing should allow the integration of additional seismic over the East Mailisu prospect before confirming the final well location.
