RE: Next Stage = Production 1500Bpd18 Mar 2019 07:40
Highlights:
· TLP-103C to produce from the upper reservoirs by comingling production from R2 and the Mengo, following a double completion including a one-off frack of the Mengo
· Initial anticipated aggregate flowrate in excess of 1,500 bopd for the first 14-18 months
· Projected financial metrics at 1,500bopd:
o c.US$1 million/month net free cashflow generated
o breakeven oil price falls to below US$20 per barrel
· First production targeted for April 2019
· Completion of the Well to production will be funded from existing cash resources