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
Back of the envelope numbers here.Completed Cooper wells cost...
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23.0¢ |
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Mkt cap ! $607.2M | |||
| Open | High | Low | Value | Volume |
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