galoc production figures from oel quarterly, page-5

Great announcement!

I calculate the average production of 10 Mbbl/d based on offloading 300 Mbbl on 7 Nov. (300/30 days). Granted this has been a period of comissioning and testing, I fully expect to see the high side range of production of 18 Mbopd (per operating day) in the next few months.

I'm looking for evidence of how many days GPC are actually producing in order to model cash flow. I'm expecting to see evidence of increasing operator efficiency in the coming months hence an increasing production per calendar day. A +/- 10% in uptime can mean 1.8 Mbbl/d, 54Mbbl/m or $3.2 million per month @ 65/bbl. Given that operating costs are generally fixed, I see this as the next uncertainty to reckon with in order to get a handle on short term cash flow.

I reckon that more cautious investors will want to see some confidence in production cash flow as they choose to reenter the stock.

Regards,

opt