Hi Cara, Stumpy,
With first gas from Vali and Odin expected by year end 2022, I took a quick look at potential daily and annual cashflow for MEL in 2023. I would welcome your input / thoughts on my assumptions which I sourced from various announcements. I'm just trying to get my head around whether this MEL's future cashflow will be sufficient to turn MEL's fortunes around.
Key assumptions for cashflow;
- East Coast sales gas price = $10.50 / GJ
- OPEX cost / GJ (Cooper Basin) Wells, plant, royalty / tariffs, tax = $7.21 (sourced from Core Energy Resources (2019: Cooper Basin)
- Sales gas price minus OPEX cost = $3.29 / GJ
- Based on modelled well rates to achieve a production plateau of 9.1mmscf/d hydrocarbon gas - see below
- 1 GJ = 947ft3
- Production plateau rate = 9.1 mmscf/d hydrocarbon gas
- 4 production wells with excess wellhead capacity
- 300 stream days / annual
Result
- 2023 net MEL $7,914 per day
- 2023 net MEL $2,374,248 annual
Kind regards OldGeo
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