I know it sounds depressing, but the maths seems to work out...

I know it sounds depressing, but the maths seems to work out that way.

Smith #1: 3042/30 days per month= 101.4bopd= 25bopd net to Range (as Range own 25%).

RB #1: 3604/30 days per month= 120bopd= 24bopd net to Range (Range own 20%)

25bopd+24bopd= 49bopd. So call it 50.

Pretty depressing really. That's 18250bopd per year to Range, and at $30 profit per barrel (remember Trinidad is $30 profit per barrel), that's just over $500,000 per year from Texas. Not even enough to pay for Landau's flights over a year.

Of course there's two other wells drilled since then, but one of them we have no flowrates for (has it even been put into production?) and the other one was only recently completed.

No matter which way the cake is sliced though, this 'asset' is hardly contributing much towards the cash pile. Sooner it's sold the better, though obviously low flow rates will have a knock on effect of the value of the asset.