My error, the PSC is between SPE Oilex and with the Indo...

My error, the PSC is between SPE Oilex and with the Indo government. The 85/15 split mentioned before was in the 1970's, and now the split is more like 70/30 (possibly more) due to investment incentives but details are kept confidential.

Then there is there reclaiming the costs from the government which brings the real share is up to 60/40, sometimes 50/50 (often more). So we assume minimum 30% of the total output is Oilex/SPE's after costs and that is currently $70 per barrel. 60% x 30% * 2000 bopd per day ~ 360 bopd minimum ~ $25200 USD per day ~ 9.2 million USD (profit) per year

So that's pretty damn good and news of this will definitely move the share price 100%

Here is some more info about the PSC

PSC in a Nutshell:

Is a contract between a Government (NOC or Ministry) and an IOC under which the IOC will act as the Government’s contractor;

The Contractor shall fully fund the petroleum operation activities and the costs will be recover the Government out of the production stream (in barrels);

The Government has title and ownership over the ‘petroleum assets’;

After the cost recovery deduction, the production will be shared between the Contractor and the Government;

The Contractor carries full risks during the exploration phase

Petroleum title will not be transferred before ‘point of export’;

Authority to extract still be vested with the Government;

The Government will manage and supervise the Contractor activities.