MAY 0.00% 2.6¢ melbana energy limited

Massive Result, page-12

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    Just going through your details. You might need to reconsider the Melbana share. You need to deduct the amount owed to CUPET in the production sharing contract (PSC). The Joint venture gets about 67.5%
    source: Cuba Block 9 Production Sharing Contract (~2015-2017) http://www.melbana.com/site/cpfile/2481_1/20180123
    source: (67867508)

    https://hotcopper.com.au/data/attachments/5544/5544560-8995b38b66ee46c681cf534cb2894604.jpg
    https://hotcopper.com.au/data/attachments/5544/5544630-a95f2a38855ab5313ae6415f62600541.jpg

    According to my understanding of what you did, you did 26.4 (Best 2U, Melbana 30%) x 1,000,000bbs x $72.14/bo = $1,904,496,000. If you take 32.5% off this that is getting there. Recently we also worked out Sherritt was selling their heavy oil at a discount to the Gulf Coast Fuel Oil Number 6 reference prices (Sherritt 2015 annual report). This discount is about 0-40% (sometimes they had no discount... it depends on supply/demand).

    If no-one raised this to your attention, then shame on this forum for not picking up on this earlier.

    On another note, what software program did you use to make your log graphs?
    Last edited by Flambeau: 28/08/23
 
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