Beautiful!
4 successful wells 2 producing... one stable with 60b to PYM need another 60b to meet the burn rate if oil prices stays at USD50...
60b x 32 (USD50-USD18 production expense = USD32) = USD 1920...
1920 x 90 = 172800... this is what we are generating from 1 well... need another well to produce 60b per day and we will be break even when it comes to admin costs...Cash burn in lastquarter was 400k plus development cost for wells.
Considering in mind we have 3 successful wells development cost paid for 3 wells.... 1 to b paid which is last one cost is around to be break700-800k... bring our cash to 7.6m roughly...
Pym is not far for being profitable... all 4 wells producing around to60b per day net to pym... will see us generating almost 1.6m profits... this is based on 4 wells producing around 60b each at oil prices remain at USD50...
7.6m cash will see us drilling another 9-10wells with similar success and we will be just happy within 6-12 months time...
This is why Compare it SEH OR even with AZZ
Cheers
Beautiful! 4 successful wells 2 producing... one stable with 60b...
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