CTR Fundamentals, page-3

Monark,

Based on their initial ann as CGV they estimated their netback at $45 based on a $80 POO. This was later corrected to $56.45 in a presentation last year (29 Jul 13).

Now my fault for using netback as the term. I will re-phrase that to earning per barrel after royalties etc as I explained. However I have still deducted these production costs from my figures to arrive at my estimates, so am reasonably confident with the numbers.

I disagree with your estimated numbers, and without any workings out they appear dubious to me.

As for shutting in A4, what are you basing that on? It is still a producing asset. I intend for this thread to discuss facts, so lets attempt to stick to that.

Cheers.