RE: "A Happier Year for Petro Matad in 2025" - Progressive Report!23 Dec 2024 07:10
WOS, i posted the below several times around a month ago, Adw argued these figures were rubbish, based on Progressive report saying we will have 2.5 million in bank ay year end it would seem i was pretty close. Forget Adw, he is a liar.
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There is only one set of truthful facts, these are detailed below, no matter what Stas, Adw, Epsen, Gust, xx proinvestor etc etc etc want you to believe all the above is checkable, unlike their posts which are works of fiction.
We know two costs. To drill a well costs 1.5 million, we also know the entire cost to bring a well to production is 4 million, To bring a well to production includes 3 processes which are as follows:
1: Drill the well, (1.5 million fact)
2: Well test. (1.25 million est)
3: Completion. (1.25 est)
So fair to say Well test and completion costs 2.5 million. (have estimated 1.25 million for each)
H1 was drilled and well tested in 2019, this year H1 costs were completion only so we could start producing so H1 costs this year around 1.25 million.(note surface completion equipment such as beam pump & compressors were onsite before the infamous fund raise so paid for from funds before the raise).
H2 was drilled and well tested, it has not been completed so H2 costs around 2.75 million.
(H2 came in drilled a week early so I would assume slightly lesser cost than above.)
Gobi 1 was drilled, not well tested and not completed so Gobi 1 cost 1.5 million.
Fair to say H1, H2 & Gobi 1 total maximum costs this year around 5.5 million.
If this 5.5 million was paid from the fund raise of 9 million then we have 3.5 million left plus whatever was in the bank at fund raise time less day to day costs, my estimate would be we have 3 million in the bank today.
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