If you look at the EUR's (expected ultimate recoveries) then the figures stack up pretty good.
Net to BUR:
YPU1 - 300mmcf and 10,000bl
Rocket 2 - 500mmcf
Jet 3 - low assumption of 700mcf
Marlin 1 low assumption of 700mcf
Gives 2200mmcf @ $8000/mcf and 10,000bl @ $90bl
Totalling $18.9M US (This includes gas already produced)
This is using conservative figures all round. Jet3 and Marlin1 will likely produce much more net to BUR as they appear to be bigger producers and BUR has a higher NRI.
If gas prices were to drop to $4000 per mcf they only get around $10M AUD; so about break even without admin costs.
If you look at the EUR's (expected ultimate recoveries) then the...
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