This price gives no value for further exploration success.
I am using a detailed excel spread sheet model developed for the Canning Basin WA, so the cost are slightly higher here than with the SA.
Assumption in Fiscal Analysis
Model time scale (years) 40.00
Development Cost (USD millions) 193.00 Operating cost (USD per barrel) 2.00 Total number of producing wells 50 Maximum annual oil production 3,736,779 Max daily production rate 10,238 Initial well production rate 250 Production decline rate 0.10 Cumulative production (million of barrels) 40.00
Oil Price (USD) 80.00
Net present value Excise Tax Regime After corporation tax