I realise the latest REX well isn't included.
All the previous oil production from the JV is included, or should be, and its not strong. I don't know how much of the JV cashflow is being kept for re-investment (rather than provided to WBE as an income stream).
But my point stands, they are a long way from breaking even on operations, and admin seems very high in relation to income. Net cash flows need to go up ten fold to turn a decent profit (i.e. a few million a year) based on this quarterly.
I realise the latest REX well isn't included. All the previous...
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