Back of the envelope numbers here.
Completed Cooper wells cost $1.7m, Cooper tend to have 25% equity in any given drill they are involved in.
Thus, Cooper need to pay in call it $400k.
Cooper produces at 900 bopd at net A$30/bbl, for $27 000 a day.
Wells take 15 days to drill.
Thus, when Cooper is involved in a drill, it pays for it out of cash flow.
When Cooper isn't, they take a satchel full of cash, and throw it on the pile with the others.
I'd believe the company's numbers, if oil prices stay at or about their current level.
Ian Whitchurch
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