US$16M net revenue on 3,883 bopd at US$51/bbl
All Manora capex now paid for with drilling completed
at 4500 bopd at US$65/bbl, we are probably looking at US$20M per quarter (I did some detailed calculations that I will not present here), assuming production expenditure remains the same as March quarter's
US$25M in cash as of 23 April 2015 (previous announcement)
Forecast expenses of:
Payment to NGP/H of worst case scenario of US$14M
Cost over-run of US$8M
Potential contribution of US$9M for an additional 3.33% share of Manora
All of these now can be accommodated, noting that TAP can offset the remaining US$9M due from NGP/H for the TAP carry.