Royalty was for just first shipment...1.25% of 328,000 barrels...

Royalty was for just first shipment...

1.25% of 328,000 barrels (4100 barrels x $107AUD = $440,000 approx)

We've had two shipments definitely, 3 quite possibly.

$1.3million and counting.....hopefully some confirmation of increased flows to come.... If next cheque doesn't arrive until 1 April, should be around $2.5 million assuming no changes to current production and stable AUD/Tapis. Hopefully by then the royalty will merely fund the Cobra discovery party.

Happily frustrated.