RE: Just £600k mcap1 Dec 2024 23:25
Paul Welch: It will. The first 30 barrels per day are profitable for us. Once we exceed that profitability hurdle, every additional barrel adds about $50 in profit—sometimes more, depending on the field.
In Fouke, for example, it’s closer to $65 per barrel. For Pine Mills, it’s $45 to $50 per barrel.
Once we get all these wells running, we expect to increase our monthly cash flow by nearly fivefold. It’s a significant step change. The work begins in early December and should take six weeks, with benefits visible in the first quarter.
It’s an exciting time for shareholders, and I believe even those joining now will be richly rewarded.