2017 results14 Feb 2018 16:03
Guys, I'm trying to estimate the 2017 financials.
I cannot find anywhere the split between oil and gas but I remember finding out from somewhere a few years back that there was a lot more gas than expected, maybe a split of oil to gas of 55:45. Can anybody back this up please?
I am also trying to ascertain the number of barrels of oils we generate but cannot see a recent update, which given the appeals for information here is not particularly surprising I suppose.
Assuming 55:45 split is accurate, then that would split our 2016 revenue between oil and gas as �700K and �575K respectively.
The average prices of WTI in 2016 and 2017 were 43.15 and 50.88 respectively. Assuming no increases in production (which is I think very conservative) we can expect �825K in oil revenues for 2017 as a minimum.
The average prices of gas in 2016 and 2017 were 2.49 and 2.99 respectively. Assuming no increases in production (which is I think very conservative) we can expect �690K in gas revenues for 2017 as a minimum.
The above assumes no hedging of course and is based on average spot prices.
Combined income would conservatively be �1,515K (an increase on 2016 of �240K) which would show a much better H2 than H1 for 2017, but again that would be expected as most of the increase in product price has happended in H2.
I am going to assume that this additional revenue would flow through to the bottom line as it has come about purely as sale price increase and not increased production.
Does anybody have any thoughts on this and better, have any other information to use?!
Cheers.
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