RE:quarter end I missed the land part intially as I didn't have my accounting cap on yesterday.
YGR's land buy isn't under the the "land, acquisations, and lease rentals" under Capital spending...as this line shows only 200k spend for Q3 as seen below.
The reason the land buy was not put under this capital line is because it would have be subject to depreciation expene in Q4 and you shouldnt depreciate undeveloped land with no wells drilled yet. Example, the 33.096m capital spend in Q3 get's added to assets and in Q4 this starts to slowly depreciate (per boe) as assets produce oil and gas...slowly expensed on income statement. This west ferrier land buy shouldnt have a dep. expense until it starts producing so it is not part of capital summary.
The exploration & evaluation assets line...the line below the total capital spend of 33.096m is the land buy..this:
| Exploration & evaluation assets | $ 3,506 |
No I didn't call the company. But I know YGR's capital equipment spend per quarter and it is higher then normal...more then just a pumpjack.
Capital Spending
Capital spending is summarized as follows:
| | | | | | | |
| | 2022 | 2021 | | Nine Months Ended |
| Cash additions | Q3 | Q2 | Q3 | | 2022 | 2021 |
| | | | | | | |
| Land, acquisitions and lease rentals | $ 200 | $ 40 | $ 327 | | $ 401 | $ 143 |
| Drilling and completion | $ 28,114 | 23,806 | 19,847 | | 70,260 | 53,997 |
| Geological and geophysical | $ 164 | 191 | 42 | | 477 | 433 |
| Equipment | $ 4,345 | 2,808 | 3,136 | | 9,604 | 6,522 |
| Other asset additions | $ 273 | 116 | 122 | | 580 | 434 |
| | $ 33,096 | $ 26,961 | $ 23,474 | | $ 81,322 | $ 61,529 |
| | | | | | | |
| Exploration & evaluation assets | $ 3,506 | $ 308 | $ 41 | | $ 3,888 | $ 175 |
Flush11 wrote: i like Kav's points but I do not see how he came up with the numbers. Did I miss it in the news release, did Kavern have to call the company?
not seeing where the 3.5 million on land was noted or the extra equipment.
These guys are so sparse with the news, the least they could do is itemize things.
Revenues and cash flow were fine. But where did it go. And why?