MXO-MD in Jakarata, finalising financial agreement, page-3

Old Man,

Good morning.

The deal is that they will pay for the rig by way of oil revenue, dispensing with the need for a capital raising.

I don't know if you read their figures or not.

Production prior to closure of the Langsa well was in excess of 5 500 BOPD.

This will increase to over 9 000 BOPD by years end.

Even based on the minimum flow rate of 5 000 BOPD,
multiplied by oil at say $44/barrel(AUS), that equates to revenue of $1 500 000 per week. That works out at $75 000 000 per year.

I am sure there are ample funds to pay for the rig from these modest revenues.

Check it out for yourself

Cheers Brewster