Slabbo.I have been doing some calculations on the potential oil revenue to go thru the platform based on the following .
1.Gulf of Mexico oil at $80 Aussie which is currently the price .
2.The gas which comes out at the same time of which I have not included any value at this stage
3.Barrels of oil production 1500 per day per well(current company estimate before more drilling this month )Based on 1 well revenue is $120,000 per day .$44 mill per year !!!
4.Platform can handle 6 wells .
5.Byron has to share sm71 and has bivpeak and owns 45 per cent of them .
6.The new leases they own 100 percent of 2o of them and 50 percent of another .With their technology they are likely to find a lot more
Based on the above and assuming they find enough oil to go thru the platform the revenue figures and ultimate profits are simply staggering !,,
BYE Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
