LL well over $80 a barrel now with Nat gas touching 24 month highs at ~$4.30
Based off latest production guidance i have OEL net rev US$70k day while after production/staff/admin should be netting close to USD$50k day will be helping the cash balance before accounting for income earned on the USD cash pile .....
Should be comfortably adding 0.1c per share to the cash balance at the current run rate.
Would be good to get a F5 production update to see if any more oil is being produced which could assist the bottom line considerably.
Surely the company must be looking at the economics of a further lightning well with current pricing and assuming a similar well to L1/L2 this could produce 16mmcfd - 500 bopd - 500 NGLS payback for a $18M well (assumes well of double the cost of L#2 which was $9M 4 years ag0) would be ~6 months
OEL Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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