Question regarding HRT's ownership of their drilling rig:
BTG Pactual CTVM SA Thank you very much and Milton just a follow-up question please. You have an integrated drilling platform, could you give us an idea of the costs involved in the wells we drilled, I mentioned it will be lower in the regular costs.
Milton Romeu Franke:
Definitely it’s good of you to bring up this point. We believe that this platform – the sixth platform that we haven’t been accessed for that field, it is quite helpful, because the completion of the wells are dry completion – dry completion in general make operations easier with reentries in these wells. We are currently performing an intervention to restore the production of one given well, and I believe that our performance is being quite exceptional in terms of time and number of days necessary for this kind of operation to be conducted.
The platform obviously has a top drive rig, and this is a rig that drills the wells, all of the wells in the field. And we have an [indiscernible] of our cost involved. We have to update and review and service all of the rig equipment and so that we won’t to need to having stoppage during the drilling process.
The wells that we intent to drill can be drilled with this rig. Our initial estimate is that each well will cost around R$35 million, total cost of 100% to be divided by the joint venture partners. Our cost to be shared by the joint venture partners and we think that with the studies that we are conducting and we have reprocess, so all of the seismic data for the fields, and our intention is to review the prospect and perhaps drill additional wells, but we haven’t made the decision yet.
So given the fact that we have the rig that has been amortized and included in the cost of the field. Obviously, we have wells that can be drilled at a lower cost than if we needed another platform, another rig to drill. And so this is the kind of information we can disclose for now.
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