I was too excited on the mobile. The $350k is more likely profit...

I was too excited on the mobile. The $350k is more likely profit for the year!

In the 20th Jan BUR announcement at the top of the thread, the company advises T3 is currently generating A$92,000 per month and the other wells are currently generating A$84,000 per month. An exchange rate is given as 1 USD = 0.81 AUD.

Oil price used for the calc is USD 49,00 per barrel.
Gas sales price is USD 4,20 per mcf.

Expenses come from the last quarterly where it is stated A$400,000 is expected expenditure for the current quarter - $200k for Admin and $200k for Exploration and evaluation. From the AGM I understood no exploration was underway, so this amount may be over budgeted.

So, ignoring decline which needs to be allowed for, income from sales could be A$176,000 per month which is A$528,000 for the quarter. Less a max of A$400,000 shows a profit of A$128,000 for the quarter or around R500k for the year. After decline and contingency, this will probably end up at A$350,000 profit for the year per my initial workings.

Better than loosing money!