You can't include the option conversion in the share registry without saying they will receive ~$20m in cash from them.... Also revenue is much more than 'a couple of million'...
1500bopd is $21.9mpa on a 100% share at $40 a barrel, so if they retain half then its over $10m net profit minimum... And that is only the first well and the flow rate and margins could be larger
Chart, page-336
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