dream sequence..

Purely for entertainment value, think about this:

The JV's previously-stated optimum production level for the Na Sanun East areas in L44/43 has always been 15,000bopd total (6,000bopd to CVN). This upper figure is constrained by the sliding scale impost of the SRB tax. It now looks as though this level of 15,000bopd production is attainable in L44/43 in the near term simply by drilling out Wichian Buri North.

However, the northern continuation of WBN runs into L33/43, which is a separate license for SRB purposes. There is therefore the potential to add another tax-efficient 15,000bopd in that license before hitting the SRB tax constraint. And we already have the two initial WBN wells on that license, with a total production potential of over 3,000bopd, shut in pending approval of a production license, probably by December.

So the best case target for early next year at the Petchabun project could be not just 15,000bopd but 30,000bopd (12,000bopd to CVN).

Bearing in mind that CVN have stated a net revenue after tax and costs of $US16.60/barrel, that would equate to $US199,000/day ($A220,000/day) net revenue to CVN. Coinciding of course with the drilling expectation and additional potential success at CVN's L20/50 project.

OK, back to reality.. Now where did I put my ugly pills?


(NB: This is entertainment, not advice)