Surely in Thailand (just like everywhere else), Tap has to pay its share of taxes and Royalty under Thai concession terms? royalty comess off the top as it is concession not a PSC. The Operator must have to do this out of its crude oil sales and then debit Tap's share
Your calculations ignore this completely, yet it is probably at least 30% of the gross revenue. That would make Tap's revenues 9before expenses) just over $3M/month , not $4.7M.
Also, as time goes on the production will inevitably decline and costs will increase, so they wont make the same per barrel on the remaining reserves as they are doing now (whatever that actually is).
TAP Price at posting:
23.7¢ Sentiment: None Disclosure: Not Held
