Thanks for the maths lesson chc. Ouch yes ! Perhaps I was looking with my rose coloured spectacles on or perhaps as El has suggested the red wine was producing a healthy benefits to my heart if not to my mental processes.
My apologies to any who accepted my calculations at face value.
I have gone back over some of the past production performance figures just to get a picture of how things compare.
If we go from the production totals given from 1 July 2008 up to 22 January 2009 we have 6.1 mmbo. Then from that date go forward to 4 march and the total has reached approximately 7 mmbo. In other words over that 6 week period 900,000 barrels of oil for an average of 150,000 barrels per week or 21,428 bopd.
When we look at the 2 week period from the 4th March to the 18th March then we have approx. 300,000 barrels produced which again gives us an average of 150,000 barrels per week or 21,428 bopd.
If we take that average flow rate and accept that there is (TWO POINT THREE MBOs) 2.3mbo to go then it would take 107 days from 18th March to reach 9.6 mmbo. Now there were just 104 days to go from 18th March to reach June 30th.
So if my calculations are correct this time, then it will be close to what they have predicted.
( PLEASE NOTE: No wine has been consumed in the preparation of these statistics. Any errors are human ones)
NZO Price at posting:
$1.14 Sentiment: Hold Disclosure: Held
