What’s Going On?, page-50

I'm just throwing this out there, as first time I've attempted to figure this out...
From the April update...
Bass sold 9347 barrels (net to us),
Average price $65.57 (US) per barrel.
That's $612,822 (US) for the quarter.

Now using a cost of around $35 (US) per barrel leaves a Profit of around $285,737 (US) for the quarter.

In yearly terms, equates to around $3,428,000 (US).... $4,500,000 (AUD).

Now even at just 10×pe ratio that's a MC of around 45mil in my mind.

Ok, so what am I missing????, any gurus please correct my math.
As I said, first time attempting to figure this, so any imput welcome.
Cheers,
Mick.