You're right about one thing.  Horizontal is expe

You're right about one thing.  Horizontal is expensive.  Remember the east Texas well that cost about $1,000,000 to drill a little over 1000 feet horizontally.  (That didn't include the capital to drill the well to depth which was probably several hundred thousand more.)  Unfortunately it turned out all that money for nothing.  But then you don't know unless you try, sometimes. 
As for Belize, some are disenchanted about the extended time, but everyone should remember that BNE encountered the same problem with water that Treaty is having.  And it took them about six months to complete their well.  Treaty is at least continuing to move it forward.  Stay tuned, and ... Get Ready!