RSummers, ZN would have at least four options to develop a large discovery:
1. Sublease the Megiddo-Jezreel license to a major oil company who would invest the capital to drill the remaining wells. ZN would get a lease payment which would likely include royalties.
2. Bring partners in who would provide capital and expertise in drilling out the license, or providing infrastructure.
3. Drill all the future wells with their capital and under their direction by hiring a drill rig (how MJ#1 was done).
4. Form a drilling company wholly or partially owned by ZN and the drilling company drills future wells for ZN and perhaps others. ZN provides capital to form the drilling company pro-rata their share of ownership. The drilling company works under the direction of the E&P company holding a license or lease.
Based on ZN's efforts in the past to form a drilling company and JB's affirmation of this plan in his comments at the shareholder meeting, I suspect ZN is leaning towards #4 for drilling. Even if they drill all the wells through their subsidiary, they may still want infrastructure partners or service providers.
So, I would guess that drilling is #4 and that infrastructure build out could be any number of paths.
The drill and infrastructure plans would definitely be good questions to ask!
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