Member Info for Mike31

This is what I was trying to find out (without over hyping) to base my investment decisions. If Sea7's figures is accurate, then this worth a punt.

290x35x365/12 = 300K approx

50% = 150k approx

Sea7: fabulous post and good breakdown explanation

Or if Schlumberger proves a find

That would be nice!

I interpret it as

Before recovery: 50/50 split
After recovery: 60/40 split

After recovery, more goes to the government.

The government pays all taxes from their share of Profit Oil. Profit Oil is split 50/50 until payout, defined as the time when all cumulative revenues from Cost Recovery and Profit Oil exceed cumulative capital expenditure, including the historic cost recovery pool. After payout, the Profit Oil split is 60% for the Government and 40% for the Contractor.

LB28 clearly does not understand the difference between a 100% working interest and a PSA

Kindly refer to the document SimonT has provided

It amazes me how people do not understand these clauses. I fully agree with SimonT

I believe its a clause in the contract with the Georgian government. Once a well produces and after recovery cost, the profit is split 60/40.
Georgian government gets 60%, Bloe gets 40%

I wouldn't rule it out completely just yet. We are a little safer as WBowl has pointed out it only cost 1.5-2million each well.
Think the sp may have reached the bottom now.
What matters now is news

Ok Time will tell

Company aint gonna wait until they save up enough. They will work ahead and most likely take out a loan. Time is money for these guys imho. You guys are not seeing a potential scenario

Fastmoney: I dont know, I am asking a question. Maybe someone more knowledgable can provide an answer

I just want to know for sure as many are quoting we have 12million in the bank. I remember PH mentions he enters and develop cheap wells (which is great for the company), but cheap wells still costs approx 4million per well?

Welcome back Captain, good to have you on board (genuinely meant it)

What I would like to find out is whether we would have enough funds to continue with our operations further down the line as forecasted. If not, PH may need to seek alternative funding from a third party. If somebody can give a good estimate on how much of the 12million is used, and how much is left that would be great

Ojay, maybe you can start planning the oil find party. Can even invite Mr Mike Buck and give the old man a hand shake lol

Wrong again to say sp hasnt headed south

Its has from 9p to 7p and now looks like its heading north again