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MXO-MD in Jakarata, finalising financial agreement, page-3

  1. 2,726 Posts.
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    Old Man,

    Good morning.

    The deal is that they will pay for the rig by way of oil revenue, dispensing with the need for a capital raising.

    I don't know if you read their figures or not.

    Production prior to closure of the Langsa well was in excess of 5 500 BOPD.

    This will increase to over 9 000 BOPD by years end.

    Even based on the minimum flow rate of 5 000 BOPD,
    multiplied by oil at say $44/barrel(AUS), that equates to revenue of $1 500 000 per week. That works out at $75 000 000 per year.

    I am sure there are ample funds to pay for the rig from these modest revenues.

    Check it out for yourself

    Cheers Brewster


 
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