Sharejon.Sorry, my calcs are for 3 net wells being drilled this...

Sharejon.

Sorry, my calcs are for 3 net wells being drilled this calender year (not 4), one net well every 3 months for 9 months, which ads up to 49 gross wells as stated by AUT.

IMO calcs should be right in line if things go to plan, as i have used decline curves and taken into account the different lengths of time each well will be producing.

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Here are the calculations and production figures i used for an average well -


1st well - 10 months production

1st 28 days - 1050 boepd or 29,400 boe
2nd 28 days - 1000 boepd or 28,000 boe
3rd 28 days - 875 boepd or 24,500 boe
4th 28 days - 775 boepd or 21,700 boe
5th 28 days - 650 boepd or 18,200 boe
6th 28 days - 575 boepd or 16,100 boe
7th 28 days - 500 boepd or 14,000 boe
8th 28 days - 525 boepd or 14,700 boe
9th 28 days - 530 boepd or 14,840 boe
10th 28 days - 475 boepd or 13,300 boe

Total production of the 1st well over the 10 month period = 194,740 boe

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2nd well 7 moths production -

1st 28 days - 1050 boepd or 29,400 boe
2nd 28 days - 1000 boepd or 28,000 boe
3rd 28 days - 875 boepd or 24,500 boe
4th 28 days - 775 boepd or 21,700 boe
5th 28 days - 650 boepd or 18,200 boe
6th 28 days - 575 boepd or 16,100 boe
7th 28 days - 500 boepd or 14,000 boe

Total production of the 2nd well over the 7 month period = 151,900 boe

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3rd well 4 moths production -

1st 28 days - 1050 boepd or 29,400 boe
2nd 28 days - 1000 boepd or 28,000 boe
3rd 28 days - 875 boepd or 24,500 boe
4th 28 days - 775 boepd or 21,700 boe

Total production of the 3rd well over the 4 month period = 103,600 boe

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Total production of all wells accounting for different production time frames = 450,240 boe

Add this figure to existing production -

450,240 + 120,960 = 571,200 boe or

2012 average production rate of 1564 Boepd and

net of royalty rate of = 1173 boepd

EBITDAX of = $35,471,520

I have been told by a reliable source that AUT and EKA recieve a $5 premium to WTI. So at the moment they are recieving ~ $107 a bbl, i am also not taking into account NGL stripping so IMO at the current point in time $90 a bbl is good for calculating.

Yeah ill shoot you a message later on today to discuss sharejon.