for wipz and all who asked today,
Basis is as follows:
poo = US$80/bbl (80% of actual);
costs = US$12/bbl (from last update);
prod (net to CVN) = 2600 bopd;
prod (net to CVN) = 949,000 bopa;
gross = US$76 mil per annum;
op costs = US$11 mil per annum;
Royalties & tax = US$39 mil per annum;
net = US$26 mil per annum;
US$26mil buys an awful lot of self funded wells (over 300 actually) - Just like building hotels on Mayfair :o)
tc, totally. more than fair value no that it's below 50c.
cheers
neo
poo, page-13
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