How much time passes from the moment of the beginning of mine to the intermediate results?
And has it ever happened that during the mine process the resource stocks were not confirmed?
if i understood your questions correctly
- most of our acquisition targets are in production in order to increase production we have to invest
- in some cases our targets oilfields are in development stage (I.e.reserves confirmed but no production yet )
For those fields we plan to invest to bring then into production
- to develop fields to full scale production usually takes one -two years but you can recover your costs and get positive cash flow from the beginning of production ,it's stipulated in the ProduCtion Sharing Agreement
- production can be only started on the oilfields with confirmed and audited reserves