Buffalo Financials, page-32

TL used to have a fast 'cost-recovery' approach from the revenue after 5% royalty was paid firstup from the gross revenue. This was done to access Profit from the sales very quickly for small sized fields (eg Kitan where ENI recouped costs in 11mths & started paying profit), rather then drag the cost recovery for a few years. The remainder 95% Revenue (after roy) would b the Operator's share followed by deducting costs, profit oil share (60 TL : 40 JV), abandonment, taxes etc to give the final takeaway share for the Operator & Govt. The figures CVN gave in the past (150mil & 80-100/yr for 5yr life) should b ok to use. One could add another USD40-50mil as abandonment for 2-3 wells.

I dont know the new PSC terms yet, as no one (STO, INPEX, ENI, COP etc) have released it yet. I think it would b best if the company released a simple slide explaining this scenario via a 'Oil Barrel' diagram at USD60/bbl & the final share split from it.

At the end of it, the govt gets its share of royalty, profit oil & Taxes, whilst the JV recoup their initial capital outlay & its share of profit oil. So a PV10 approach Pre or Post-tax over 5 yrs fieldlife should b the way to look at this.

Another neighbouring field EKKN (ie Elang-Kakatua-Kakatua north) lasted 9 yrs for its 31 mmbbls from July '98 to July 2007, before Kitan (Oct2011-Dec2015).
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Retired:
u could swap the profit split figures the other way around & mayb reduce production to 5yrs with 50mil as your abandonment costs. After u get the PAT, discount each year's Cashflow by 10%. That will give u a PV10 for the field. Divide that by SOI (assuming no dilution). Cheers..