You aint seen nothing yet, page-36

I have updated my earlier slide to include December numbers for those interested. Main purpose for me has been to use the SSN numbers to get a feel for the costs and risks for an O&G company to go from explorer to producer and also to try and understand how sentiment changes throughout the cycle. Hopefully in the future I can use this as benchmark to appraise the stocks I am interested in. It's a work in progress and subject to my own interpretation and bias. Numbers are from YTD numbers in the qtrly cash flows.

  Below is an overall summary of the above and the final bit is to try and identify cost per boe which is a bit subjective. I have assumed production revenue offsets Admin cost and then used Exploration & Development cost less Land sale proceeds to work out a rough overall net investment cost over the period to get to an estimated avg boed for 2015. I think if/when all wells are on line the boed may be higher (say 2,500) but then there is decline rate to consider so have used a lower achievable number.


Any improvement suggestions are appreciated and it is only my interpretation which is from a novice perspective, I have no O&G background and my opinion is limited by my understanding.
Cheers & GL to those that have seen a SP increase over the last week.
Cheers