Hello Ya,I used exactly the same numbers from their annual...

Hello Ya,

I used exactly the same numbers from their annual report as per your numbers that you listed. I only included Galoc, Tindalo & Yakal 2P.

Opt thank you for the feedback, however I really do not understand why you can not tie my 2P numbers straight back to the 2008 Nido annual report?

Note I am putting the entire field in, not NDO's share of the field in "Residual Reserves Million Barrels (start)". I am reducing the field at 15,200 barrels per day in the first year. NDO's share of the 15,200 barrels I am showing in the model under, "Oil Production per Day (NDO Share)".

As per my assumptions listed below the model, I add volume in year 2014. My assumption is they convert some of their 3P to 2P or find new oil reserves or extend the life of their current reserves. I do not think this is unreasonable as I have NDO spending 10 million AUD every single year for exploration / proving up reserves.

Cheers,
Michael