A article that I found that FARITES may be interested in reading...

A article that I found that FARITES may be interested in reading

How Much Does It Cost To Produce 1 Barrel Of Oil (African Oil Producers, 2013)
Oct. 16, 2014 12:11 PM ET

http://seekingalpha.com/article/256...f-oil-african-oil-producers-2013?page=2&ifp=0

Summary

• The profit of any oil company depends on the cost to produce 1 barrel of oil, technically spoken 1 barrel of oil equivalent (boe).
• In previous articles, I have compared production costs of the world’s most important oil majors. In this article, I calculate production costs for 2 companies mainly active in Africa.
• Their absolute production is relatively small, but huge reserve-replacement-rations lead to expectation of high production growth.
• Nevertheless, both companies were profitable in 2013.

In this article, I calculate and compare production costs of Afren PLC (OTCPK:AFRNF) and Tullow Oil (OTCPK:TUWLF), enterprises that are already producing large quantities of oil and are profitable.

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