Could have done without the Rig delay!! As long as the POO stays above USD75+/bbl, they should b fine.
Remember, the first Million bbls produced frm T#1 or production from the first 100 days of the 'Extended Well Test' is all net profit to the partners.
With a gross capex of $20m, 1 MMbbls @ $80/bbl is worth US$80mil to the JV, or a profit of US$60mil.
Should see this in their Q2 earnings report, besides the Galoc revenue.
Ann: Tindalo Development Schedule Update , page-4
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