OTCPK:WSRLF - Post by User
Comment by
vindaloo_u2on Sep 19, 2012 4:32am
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Post# 20384000
RE: RE: RE: RE: RE: WZR: PG 12 of Corp Presentatio
RE: RE: RE: RE: RE: WZR: PG 12 of Corp Presentatio If you really want to simplify things, let's take the bare minimum of what they will receive per barrel after all costs recovered. I'm ignoring the costs associated with extracting the oil at this stage as it's fairly insignificant (+.40cents/barrel?). I believe corporate taxes are 15% in kurdistan. :
At $100barrel brent:
-10%Royalty x 16%(min R factor) x 40% working interest-3% tax
=USD 5.59/barrel produced
As of today (Brent at 113)
=6.31/barrel
Once again...these are absolute minimum payments...it would take years to reach this R factor. We will be taken out before then. The majors should be paying at least $2/barrel contingent. Should be closer to USD $3. We're no longer talking about WI here...it's in the calculation...it's the total amount on garmian and kurdamir which could reach over 1.5 billion mean contingent next year if Baran is connected to kurdamir and it proves up the P50 prospective. We would at that point have a takeover value of 3 - 4.5 billion dollars.