Show us the Money:A realistic assumption today is that total Test Production from Balay-1 and Balay-2 is approximately 350,000 barrels of oil (Balay-1 has test production of over 300,000 barrels to date and last update said that Balay-2 was testing at over 2000 barrels per day).
From some earlier calculation adjusted for more barrels to date:
To date, Balay-1 has produced approximately 310,000 barrels of oil from test production and Balay-2 at least 40,000 (given that Balay-2 tested at over 2000 barrels per day) . 15% to Petroamerica means they have over 52,500 barrels of oil to sell to Petrobra to date from only test production on Balay-1 and Balay-2. If they sold that oil to Petrobra for $75 per barrel given that oil prices have been over $100 for a long time (the discount to Petrobra are due to the obvious reasons, i.e operating costs, Petrobra pipeline, infrastructure in place to get the oil to market (if Petrobra sells in Europe where Brent crude prices are much higher than WTI, then buying at $75 from Petroamerica isn't too bad). Then subtract another $25 per barrel for taxes and other costs, then profit to Petroamerica from that 52,500 barrels is $2.625 million (52,500*50).
So from my estimated calculation, the company has at least $2.625 million in profit to date from test production on Balay-1 and Balay-2. When will we get news on this, why no updates on the profits to date