No, but a good point so I had a look. If the point of the post...

No, but a good point so I had a look.

If the point of the post was look at IOG as the share price has risen 50% from recent low of 3.5 to last close of 5.4cps and this is related to Florence field and AKK somehow, then I would not be holding my breath.

Couple of things evident from the IOG Sep preso
1) Florence field accounts for 7% of production
2) Production is reported in BOE (and looks like they are shifting to a NG focus from Oil) and the new gas project accounted for 75% of production
3) Picked up a gas project where they are recompleting other wells - very low capex and talk about paybacks in term of weeks ... just keep in mind how small the wells are

But enough on IOG. This was also in the Sep '16 Preso (most recent and up to date)

WRT to FLORENCE FIELD for the PERIOD Jan 1, 2016 to Jun 30, 2016, IOG reported

(A) Revenue per barrel of oil = $32 and revenue is defined as average price received per BOE after discounts
(B) Field Operating Costs per BOE = $11
(C) Royalties and Taxes per BOE = $10

And as IOG well production does not show associated gas produced those figures can be seen as per BO.

What's left off? Well nothing really from operating viewpoint if you look at it as an asset buyer (they would not have IOG's G&A costs or finance cost). Operating Cash flow at field level = ~$11 (sounds familiar)

But it is just a half cycle cost. The other half was the Capex input to acquire, D&C and put in place the infrastructure to produce. That is absent ... but you see it in their accounts.

When you deduct G&A and Capex spent on a BOE basis that positive operating cash flow becomes a negative Net Income very quickly.

No need for any analysis. Its O&G-101. Actually investing 101. Sorry, my bad. Punting 101 - disregard all numbers, form guide and just go with your gut and the longest shot possible because that's how you achieve the highest return. Those tracks all just built themselves.

Good luck ... spectacular week coming up one way or the other ... Hopefully in holders favor (and booking a profit is better than holding on this horse).