RE:RE:Facts and Figures Answers & more questionsPG 3 of the presentation FOB specifies Bretana and sale price of the forward month. Not some far away future price. Revenue generated was $8.8 M or $39.11/Barrel. (See Pg 13)
Last year's avergae production was 5,675 BOPD whereas Q1 21 production was 7,300 a 28.6% increase. Present production 8,
There definitely is a crude quality discount of about $4.00 per barrel as well as hefty transportation and fees and a royalty payment. Sales through Iquitos and ONP totalled 397,000 barrels and revenues per barrel of $31.23 in the fourth quarter.
The Dec shipment of 106,000 B produced revenue of $4,974,000 or $46.78/ Barrel, which was far above the $31.23 sold through Iquitos and ONP.
The Q1 21 225,000 barrel shipment to Brazil of $8.8 M averaged $39.11 per barrel. This was at stronger Brent ICE pricing. (Brent Jan $54.77, Feb $62.28 Mar $65.41). One of the nicest benefits shipping to Brazil is that within 2 weeks the money is in TAL's hands without any further worries.
Why was the price reduced per barrel for the 2nd shipment to Brazil when ICE prices strenghtened? Did Brazil realize they were paying more than ONP? Competition works both ways; in selling, and in buying.
B&D