The money is not burnt with the production of oil IMO, but in other part of the business as well.
Surprise is producing oil still........ Period!!!
That is If what we have been told is true of course. And the price of oil even at current rates , and taking in consideration the value of our dollar against the USD dollar now, will make it very good and profitable still.
After all, when we were selling our crude at $100 USD per barrel and our dollar was at above the USD dollar, we were getting just about the same money as we are getting today.
I.e. $100 per barrel USD with out dollar worth $1.05 to $1.10 USD would mean that we were getting about $90 AUD per barell.
Now, with the AUD being worth only about 80 cents or less against the USD and getting only about $USD 70.00 per barrel for tapis oil, we would still collect $AUD 87.50m per barrel. And if the AUD was worth at less then 80 cents USD like it was the other day at around 79 cents USD, the price we would get in AUD would be even greater than that.
By the way, and just for the records, those figures are correct as of yesterday the 9th of December current.
So, with that in consideration, you cannot tell me that the difference of only $2.50 per barrel, or less, is what will make or break us.
And in closing, and if my memory serves me righty, weren't we been told that it was costing us about $50 per barrel to get it to market destination.?? That would give us a per barrel profit margin of about $37.50. Thus, with a production of 180 bopd it would mean a profit of $6,750.00 per day or about $2.5 million dollars per year which could go towards the office expenses and/or further drilling exploration.
And then, haven't we been told that we found someone else doing the freight at a cheaper rate than what we were paying before, thus giving us a greater profit margin per barrel.??
Facts mate. Facts!!!
Maybe, and IMO, we aren't being told the full story. Or, maybe, someone is making it all up to suit someone's needs.
dyor!!!
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