Ann: Cerro de Chaga-1 (Panizza) Spuds, page-322

Guys

30bpd = $657kpa
40bpd = $876kpa
50bpd = $1.1mpa
100bpd = $2.2mpa

based on POO = $USD60

Question is one of economics ie labour costs, material costs, taxes, incentives etc etc.

I would think the answer lies between 40 to 60 bpd for one well with other wells possibly coming online. Once a well is online it should only require monitoring.

Three wells at 40 bpd would be economic but right on the margins for a startup so I would think that the first well would have to be 100bpd plus for it to have any minimal material effect on the valuation of the company.

A lot of companies have many wells producing 50 to 200bpd so a lot of small contributions the aggregate accounting for large profits. I'm talking 20 plus wells producing with a continuing exploration programme.

Anything well north of 100bpd will have a significant effect on the SP.

Just my opinion and experience with BPT (ex DLS).

Cheers
BW