Interesting. The issue is does that take into effect the improved royalty rates as of August 2013 and also I think production might be in the region of 110k barrels for the year as Spain was being worked over at the end of 2013 and Goudron had a few days where power cut out due to tropical storms (something now fortunately dealt with) but yes they should be a much happier picture.
Thought Id have a laugh and stick my guess out there for the final year results. I've been fairly conservative on production and harsh on costs and we manage a slight loss before taxation of ~370k. Think if we do any better or break even this is going to get peoples attention.
2013 Oil Production 125610 Average Daily 344 Average Cost of Barrel 50 £ 000's Revenue 6280.5 Cost of sales -3,500 Gross profit 2,781 Administrative expenses -2700 Amortisation and depreciation -350 Share based payments 0 (Loss) from operations -270
Loss on disposal Impairment charge Finance charges -100 Finance revenue 1 Other income (Loss) before taxation -369
there are several stages in a court case. at each stage the court can make an order that one or other party pays the costs of that application or the directions hearing. Likewise in relaiton to discovery applications a seperate costs orders can be made.
On some interim hearings the issue of costs is reserved to the trial judge who, having heard all the evidence can then decide what should happen in relation to those hearings.
You also have the question of costs overall, including trial costs and if the winning party has acted in such a way that their conduct added to the costs then this can be taken into account by the trial judge when he looks at costs. Even if winning party has acted reasonably throughout they won't get 100% of their costs and if they have acted unreasonable and/or they have to pay costs for some of the earlier hearings (which quite often happens) then you end up with a much lower percentage. At some point everyone talks and agrees a figure for the balance of costs to be paid as it is quicker than having the court formally deal with assessment of costs.
got that thanks, well he saying the same thing so to me all seems ok. just a lot of nervous people out hear. but it be done and dusted tomorrow thank god. I don't see any probs to be honest it all seems in hand.
My understanding is that when a company makes an offer to settle the case then an agreement should be entered into with regards costs and how much each side should pay if successful. My question is does anyone know if that happened?
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