Thanks psi and while you were at.... Dennis Denuto was too slow...

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justinmetals

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15/04/18

21:58

Post #: 32468548
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Originally posted by psi81 ↑

Check you maths again! 90k bbls times $85 a bbl.

50,000 bbls a year is more realistic anyway and can't be sustained. The original decline was much faster than anybody anticipated and we don't actually know how it will behave when it's opened up again because CTP hasn't told us how the pressure has recharged.

If Surprise was really going to make a net income of $40M a year do you think we'd be bothering with this whole gas lark? My calculations suggest it should generate $1-2M a year at these oil prices but CTP have the build up test results after it was shut in last time and if they're not interested in starting it up again it may indicate the recharge wasn't as good as hoped. It should be very simple to start it up again and they may start it up soon anyway if the NT government tells them to "use it or lose it."

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Thanks psi and while you were at....

Dennis Denuto was too slow but came up with this

From the ctp October 17 report when oil price was $40-$50 range from at least may to october 17.

Surprise put on production but uneconomic in low oil prices further development dependant on oil price recover.

50k barrels @ $30 pb = $1.5M
CTP Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
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