Chass
Galoc becomes uneconomic at $20 per barrel
BTW according to slide 13 of NDO's Feb conference presentation Galoc, produces US$47 of revenue for the JV partners for US$60 Brent.
Doing the math, at US$76 Brent, that's US$63 per barrel. With the exchange rate at 0.64, that's AUD $98 per barrel. That's good money in anyone's books
Its reasonable to assume that NDO pays its international bills in USD and receives its revenue in USD; local bills like Aussie wages etc would be in AUD. Expect there's some hedging on exchange rates and oil price
Chass Galoc becomes uneconomic at $20 per barrelBTW according to...
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