Hi mateAgree the announcement was a bit confusing.From memory,...

Hi mate

Agree the announcement was a bit confusing.

From memory, they haven’t used that description before.

If they used this example for the FMDP, they would be talking about a 257% cumulative working interest for the wells in that project using the WI stated in the Brisbane Mining Conference presentation.

But essentially, all they are saying is if you add the individual WI in each of the 7 wells, you get 20.9 %… so by definition the average WI is 20.9/7= 2.99%. You are correct, as this 3% is an average across the DSU, as some of the 7 wells may have a higher interest than 2.99, and some lower, and all will flow at different rates.

There are actually 11 wells in the Gapstow development, and BRK have an interest in 7 of them. The 150 BOEPD is the BRK share of the cumulative production from those 7 wells. That BRK cumulative flow is based on the individual well production multiplied by the individual BRK WI which then gives the BRK flow from an individual well, added together with the individual flows from the other 6 wells.

cheers

Dan