OEL 0.00% 0.7¢ otto energy limited

sc50 - calauit oil

  1. 168 Posts.
    Just reading that NDO is going to commercialise their Tindalo oil discovery for less then 20million by using a jackup rig, at costs of 250,000USD per day.

    They I assume OEL can do the same and wish that they would get on with it.

    Maybe they need to juggle a little cash first, and find a farmout partner to cover the larger part of the costs.

    At 10,000BOPD assuming they can sell at 70USD per Barrel, would would be getting 700,000USD gross per day and about 360,000 per day net assuming 250,000 cost for the rig per day and 80% costs recovery given Phillipines tax terms for cost recovery on development costs. This would get the OPEX returned in 2 months, with the rest being profit.
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