Good Morning all, Current MC is 24 Mil, with 7 mil in cash, TAP...

Good Morning all,

Current MC is 24 Mil, with 7 mil in cash,
TAP has a operating oil rig that has around 4 years operation (July Presentation) I don't believe this includes the latest worked over wells,
Currently have 50% of their supply hedged until Aug 2018 ($52 end April - $58 ends Aug), this QTR should see the unhedged oil sell for around $60+ a barrel.

With the existing hedging / current price of oil and production of around 200k barrels per QTR
After costs of $30 barrel could they see around $5mil - 7 mil for the March QTR
I have assumed that the $7 mil is based on the expenditure / operation expenses from Manora reducing back to Julys 2017 QTR, which was around $2.8mil, the last two QTR expenses were $5.4 and $6.4 Mil, I believe this is because of working over the additional new wells.

Is anyone else expecting figures like this? or am I way of the mark ?