Ann: Commercial Oil Production commences in Colorado, page-35

Yes Really. Royalty is around 25%. That is of what is produced NOT off of any price number. So simplistically when working with gross numbers, take off 25%.

Read you AKK annual report. In fact ASIC requires you to report Reserves as NRI (Net to Revenue Interest) ... so you can't hide a small working interest in a big Resource.

Pathfinder: Working Interest 100% Net Revenue Interest 75% 15,773 Acre property page 9 Annual Report 2016.

That "loss" of 25% is the royalty interest going to the mineral rights holder.

OR just subtract 25% of production and use 100% pricing .... up to you.