Echo that thought Rob - a safe and happy Easter to all (and might I add remember the reason for the season).
Back to SSN - pleased that the numbers make sense from multiple directions. I'd be happy to split the LOE difference and go with $22/BOE. Also intentionally bullish on production not for reasons that I think it will necessarily eventuate but more to see where some of the breakevens occur - and to not present a bias against SSN.
So I just quickly made some LOE adjustments to the monthly cost to 26/22/20 to give a Qtrly weighted avg of $21.85/BOE and with the same high production it produces a result almost equal to Dec Qtr. You, I and a few others know what that implies.
The timing of receipts and payments doesn't play into Qtrly results for my calculations (yeah I know you can go broke waiting on receiveables and vice versa) as its not an actual cash flow but the measurement of performance.
SSN Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held