Lets do a little fundamental analysys then, old man
Report from KRZ 12 March 2003
KRZ - Kalrez Energy Limited 12 Mar 2003 01:38pm AEST
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KALREZ ENERGY LIMITED 2003-03-12 ASX-SIGNAL-G
HOMEX - Adelaide
+++++++++++++++++++++++++ Kalrez Energy Limited is a 2.5% shareholder in the Seram Joint Venture that operates the Oseil oilfield. The major shareholder, and Operator of the JV, is KUFPEC (Indonesia) Limited with 97.5%.
Production from the Oseil oilfield commenced on December 30 th 2002, with processing taking place through a Temporary Production System ("TPS") nominally rated to approximately 12,000 barrels per day throughput.
The TPS facility is a temporary process facility to be utilized until the permanent facilities currently being installed are completed. Current expectations are that the permanent facilities will be available during April 2003.
REPORTING PERIOD FROM MIDNIGHT TO MIDNIGHT 2nd March 2003 9th March 2003
Oil produced for the period 66,941 barrels of oil
Average daily production for the period 9,563 barrels of oil
Cumulative oil produced from 31/12/2002 590,838 barrels of oil
Oil sold during the period 296,557 barrels of oil
Oil in stock 52,982 barrels of oil
The above represent total production from the Oseil oilfield as reported by the Operator. Kalrez entitlement is 2.5% of this production after deducting operating costs and Indonesian government entitlements.
COMMENTS
All three wells Oseil #1, Oseil #2 and Oseil #4 on production.
Current operations are continuing production through the TPS system.
