Ann: Bunian-5 to be Completed as Oil Producer, page-32

Kangaroo, that is one of the silliest things I have ever read on hot copper.

‘If the oil production doubles the share price will double’, totally nonsensical.

I couldn’t find the last quarterly so I used the first half of 2019.

Oil Revenue. ....$2.0M

Cost of oil. ....$0.95M

Gross Profit. $1.13M

Expenses

Admin. ....$0.52M

Employees. ....$0.45M

Financing. ....$0.04M

Total Expenses .....$1.01M

Profit. $0.15M

Now after Indonesian income tax there was a bit of a loss.

If you double the oil production the main change to these figures is

Oil Revenue. .....$4.0M

Cost of Oil. ....$1.9M

Gross Profit. ....$2.1M

Expenses

As before. ..... $1.01M

Profit with double oil. ....$1.1M

Doubling the oil production is transformational, a profitable enterprise compared to a non viable enterprise. The start of the road to being a profitable oil company.

Saltbus