Ann: Flames Well Completion Service Company Appointed, page-13

Hi mate

You go to the top of the class!

There are a lot of moving parts in these assumptions, but they are in no way unrealistic.

A few points to note are

1) The months are calendar based where the first month of production may only include 15 days of production for example , not 30, whereas the production plots the companies use are production days based, so there are 30days of production for the IP30 number and the cumulative production number.

2) Production costs are not included but are very small this early in the flush production period at ~US$ 4 per BOE.

3) This is for 100% of the well. BRK have ~80% of the WI and account for 80% of the well costs. Their share of the drill/ completion and placing on production will be ~US$7 million

4) The spreadsheet is in US$

Based on these assumptions and if they are fairly close to the mark, we can see that Rangers pays out somewhere between the 3rd and 4th month of production, and after 6 months, when Jewell incredibly paid out , Rangers should have more than doubled the net sales revenue, and BRK have double the WI in the well.

So lets see how this plays out.

Thanks again @peto2810, brilliant work!