Not sure how you got to that $6mil figure??
By my calculations PLX's netback was ~$8/boe this time last year and this year was ~$4/boe
With all the work going into reopening these wells it is obvious that the operating expenses in 2017 are larger than 2016 and therefore there is lower netback.
SO.....
If we are to assume a best case netback of say $10/boe (for the coming year - taking into account less operating costs and rising oil prices) then the profits to WBE would be
365 days X 300 boe/day X $10/boe (netback)
Correct me if my sums are wrong but that comes to a total of:
PROFIT = $1,095,000 / year
Not sure how you got to that $6mil figure?? By my calculations...
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