Looks like they multiplied the 'cost of purchase per flowing barrel' by barrels per day, which is totally wrong. Sale price of oil was referred to in the following sentence of the ann:
the price of West Texas Intermediate Crude Oil has increased from USD
$42/bbl in November 2020 to USD $61/bbl today, an of increase of 45%
So more like 15k per day at current prices, or about $5.5 million per year gross assuming flow rates stay the same. I have no idea what the profit margin is on that.
Nobody is selling $1.2 MM revenue per day for less than $1MM in consideration,
Ann: Strong Gas Shows Continue at Borba Discovery, page-195
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