What expenditure? There was no new drilling for the most recent quarter and the delayed cashflow for Wolf Pack sales will be in the quarters number.
The only major costs the company incurs are 1. Lease purchases or 2. well drilling.
Once a well is drilled production costs are low. Approx. US$1.5 p/BOE for oil transport, 7% tax and 20% royalties. Well maintenance (opex) is around US$150k per year
Once payout is achieved (cost of the well drill recovered) a well is essentially a cash producing hole in the ground with a 35 year life.
Ann: Update - Notification of buy-back - BRK, page-7
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