hynrg,
here are my figures. let me know if you disagree:
Sep QTR Report: A4 production: 14,042 barrels.
60% to CTR's account is 8,425 barrels.
Revenue (Item 1.1 of Cashflow) : $1.125 m ($133 per barrel - timing differences perhaps).
Nevertheless, Revenue $1.125m
Production (Item 1.2 (c) of Cashflow) : $0.889m
Hence, NetBack = Revenue - Production or $1.125m - $0.889m = $0.236 million for 8,425 barrels.
or $28 per barrel... as previously posted. For 9 month prior, the average netback was $35 per barrel. So that's 12 months of production with netback averaging approx. $30 per barrel.
With oil down circa $20-$25 per barrel, I suspect current netback sitting at $5-$10 per barrel. .. further drop in oil price won't be worth producing A4 as costs of production exceed revenue.
Note, Production costs exclude a) Exploration & Evaluation b) Development and c) Administration & Staff.
Thoughts hynrg ?
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