Does anyone understand the balance sheet assets? There is $29 million of exploration assets. Is that the total cost of drilling productive wells, less amounts that have already been expensed as depreciation as production occurred?
I’m assuming that this exploration asset will be a cost in future time periods and applied against income from producing wells, so that we need $29 million in future revenue to break even on the cost of drilling s plus some more to pay operating and corporate costs?
Ann: Full Year Statutory Accounts, page-19
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