Replies to post #258 on Magellan Petroleum Corp. (MPET)

[Sammypt]

Funding: The estimated cash cost of the pilot, including capital and certain operating expenditures and the cost of CO2 over two years, will total approximately $20 million, with most of these expenditures incurred by March 2014. The pilot will be funded by the Company's existing cash balances and the proceeds of the Company's convertible preferred equity issuance to One Stone Energy Partners completed in May 2013