They are the rough numbers I have too.The other way to do it is...

They are the rough numbers I have too.

The other way to do it is to simply use the revenues and production costs from the quarterlies. The number of BOE should be offset by 1 month because it usually takes that long for the receipts to show up in the quarterly.

eg If you are using the March Quarterly, you would use the production numbers from Dec + Jan + Feb, and the revenue / expenses from the Quarterly.

$45M ($15M from revenue + presumed $30M from RBL) would give them enough for 5 wells per month + change for overheads and land. They also have a fair bit of cash tucked away for a junior oiler.