We all realize MEL needs to either secure new debt, conduct a CR...

We all realize MEL needs to either secure new debt, conduct a CR or possibly both to get to O2 and possibly O3. I am trying to visualise what MEL would look like after drilling the Odin wells.

Lots of data missing to get to a cashflow but assuming MEL's current position

- Vali 1 1.5 and an operating profitof $45k/qtr
- Odin 1 2.4 and an operating profit of $165k/qtr
- Vali 2/3 shut in
- MEL maintains staff costs and Admin and Corp.of $360k/qtr
MEL is Net ($150k) qtr

MEL's future is really tied to success at O2. So what sort of flow is expected?
@ 2.4 operating profit $165 MEL is breaking even
@ 4 operating profit $275 MEL is net $125/qtr
@ 4.5 operating profit $310 MEL is net $160/qtr

There are so many holes in the numbers that it is more an indication rather than a hard number. 2.4 or less is a bad result. 4 or more is a way forward. If a CR is coming and we get the opportunity to participate I would like at least a sense of what O2 is expected to deliver. Going off @OldGeo production numbers for Beckler and Bow is 4 a realistic target for O2?