Robbana possibilities
Robbana:
Candax 80% W.I. (Working Interest)
Estimated recoverable volumes: 9 million barrels (80% to Candax)
Current rate of production: 20 bopd
Plans: Candax indicated they expect to drill the first new well in 1st Quarter 2012.
If they can boost production to 3000 bopd (hopefully in the next couple of years), and assuming their Estimated recoverables is correct, it would take 8.2 years minimum to deplete the reserves. Of course actual productions rates will vary from year-to-year, with it slowing down as it nears the end.
At $100 per barrel oil, it would bring in approx $87,600,000.00 gross revenue per year to Candax. Conservatively after taxes and cost of Operations, the net to Candax is conservatively around $50,000,000.00 per year.
Article - Robbana update