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1.64%

6.0¢ byron energy limited

Jophda look at the wells in isolation - gross figures below - G1...

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boysy1

9,375 Posts.

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26/09/23

15:45

Post #: 70034504
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Originally posted by jophda ↑

That is exactly the point with SM71 it has been an excellent project that has been very profitable for both JV partners .
However the F2 well cash cow , is now at the end of its life and the F1 is past its best .
We are dealing with the present situation not comparing how profitable both have been overall .

The present situation is what the Market values things on .
Not including E2 in the SM58 project doesn't really stand up .
It is a profitable well no matter how you classify it and is part of the overall SM58 project as will be E3 when it is drilled .

E2 you initially called out as a failure and posted that they could run out of money and have to abandon the drill because of cost overuns due to drilling problems .

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Jophda look at the wells in isolation - gross figures below

- G1 - 295 bopd - 3 years old
-G2 - 70 bopd - 3 years old
-G3 - 130 bopd - 1 year old
-G5 - 43 bopd - 1 year old
-E1 - 114 bopd - 2years old
-E2 - 680 bopd - 2 years old

the four SM58 wells are producing 538 bopd the two SM69 wells are producing 794 bopd

I think its fair to say G1/G2/G3/G5 aint set the world on fire - > $100M spent on the SM58 infrastructure and the six wells for 1300 bopd gross.

BYE Price at posting: 8.4¢ Sentiment: None Disclosure: Not Held
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Last 6.0¢		Change -0.001(1.64%)		Mkt cap ! $64.72M

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Price($)	Vol.	No.
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