Mart Resources Inc MAUXF

RE: Question on revenue

[oullins]

Fishonboard,  This should save you some time.  Here is the before tax cashflow model using 6000 BOPE for UMU 6 7 and 8 plus 1950BOPD for workovers and $90 il price.

3 comments:
  MMT sells Brent and it is at $98 right now

All taxes are adjusted with sliding value in the model so it is acurate.

Remember it is before corporate taxes.

Estimated date	Q3 2010	1/1/2011	5/1/2011	6/1/2011	10/1/2011
Umusadege JV	UMU-1 & UMU-5	UMU-1 & UMU-5	UMU-6	UMU-1,5,6	UMU-1,5,6,7
Full Field	Current Production	Plus UMU-6 at 8,000 6000 BOPD	W/O's UMU-1 and Umu-5	Plus UMU-7 at 6000 BOPD	Plus UMU-8 at 6000 BOPD
BOPD	3600	9600	11550	17550	23550
Sales Price US$/bbl	$74	$90	$90	$90	$90
Monthly Oil Revenue US$m	$7,459,200	$24,192,000	$29,106,000	$44,226,000	$59,346,000
Royalty US$m	$380,419	$2,225,664	$3,201,660	$6,633,900	$10,682,280
OPEX US$m	$671,328	$1,572,480	$1,891,890	$2,874,690	$3,857,490
G&A US$m	$380,000	$380,000	$460,000	$460,000	$460,000
Abandonment US$m	$60,000	$60,000	$60,000	$60,000	$60,000
NDDC US$m	$170,000	$170,000	$170,000	$170,000	$170,000
Total Production Expense US$M	$1,661,747	$4,408,144	$5,783,550	$10,198,590	$15,229,770
Monthly Netback  US$m	$5,797,453	$19,783,856	$23,322,450	$34,027,410	$44,116,230
Mart Share:
Cost Oil Recovered	0	$2,200,000	$2,200,000	$2,200,000	$2,200,000
Profit Oil US$mm	$2,898,726	$9,891,928	$11,661,225	$17,013,705	$22,058,115
G&A US$mm	$130,000	$140,000	$170,000	$170,000	$170,000
Mart cashflow per month	$3,028,726	$12,231,928	$14,031,225	$19,383,705	$24,428,115
Mart Cashflow    per year	$36,344,717	$146,783,136	$168,374,700	$232,604,460	$293,137,380
Cashflow per share/year	0.11	0.43	0.49	0.68	0.86
Share price at 3X cashflow	.32	$1.29	$1.48	$2.04	$2.57
Share price at 5X cashflow	.53	$2.14	$2.46	$3.40	$4.28