agm presentation, page-18

Yeah, noticed that in the ann. 7:30 last night. Fully agree OG and SF, and a lot of other shareholders obviously feel the same!

$400K/day revenue from Galoc...some of my previous calcs for Galoc were for around $311K/day based on 3,898 bopd at approx $80/bbl post extraction costs (high end..which seemed to agree with Whitbys high end quote of up to $110m/yr revenue).
Joanne's figure represents approx 5,000 bopd @ $80/bbl, so we may expect to see Galoc flowing at around 22.5K bopd.

Actually, to throw a spanner in the works, I think one thing most people forget (including me) when doing these calcs, is that revenue drawn from the project by contractors during project payback is at 70% of project revenue (Pppo Gov get the other 30%).

So, taking that last into consideration, if you then calc that $400K/d is NDO's share at 70% of project revenue, the well would need to be flowing at around 32K bopd! That then begs the question of the FPSO capacity...the ships owner says it can handle up to 40K BFPD, not what we have been told by NDO!!

Incidentally, for those not in the know, after project payback, the ratio of revenue split is 60:40 ...the 60% goes to the Gov.!

Lets have some dissection of these figures please.