Ann: Operations Update - Block 9, page-169

You need to revert back to the presentation released by the company on 20th December 2023 for more accurate figures. They are the last know production estimates, which the company has not amended since that time.

As an aside - 5,000 bpod is simply the 2024 target. Duncan recently eluded to this coming from the current two wells (current pad) and two new wells into Unit 1B (i.e. the 19.8 API oil). That implies a flow rate of 1,250 bopd per well, which is on the low side (nodding donkeys and articificial lift can greatly improve those numbers if required, but I think the limiting factor will be transport at this juncture). Even two wells could easily knock over 5k bopd with assistance. Melbana's share is 30%, which equates to 1,500 bopd (547,500 per year, equating to circa U$16.5 million in net revenue per year [using other numbers from here on costs] - MORE than enough to finance the continuing Block-9 expansion plans they recently outlined.

But hey. Never let facts get in the way of a good argument eh.

Regards,
Kit.