Cheers sharks but I understand the boepd is used for valuation purposes.
They are pumping 2400 bopd and the gas they are pumping per day is equivalent in value to 500-600 barrels of oil.
Pennynut you cant call it revenue then, as revenue is the total amount of income without expenses....I think you mean 10 mill profit not revenue.
Thanks for your help guys, I understood all of that including expenses I was just pointing out that their revenue is definitely alot higher than 10 mill. Their profit is a different story but I still think it will be in the range of 12-15 million and who knows where that figure will be when they bring online a couple more. The Gary well is a no brainer...they have the seismics and they know what is down there now after the Gene well. SSN is seriously undervalued at the moment.
SSN Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
