RE: RE: RE: RE: Verbonac Union Securities UpdateI got the extra 185,000 bbls from the Aug 26th news release on Cook :
"At completion, Ithaca is also entitled to an oil inventory of approximately 185,000 barrels. Thisinventory is anticipated to be lifted and sold in Q4 2011. The adjusted consideration does not
reflect this anticipated cash receipt."
The 185,000 bbls should be profit oil from Jan 1 to Aug 24th as they assumed production from Aug 25th
I agree with your numbers though you should not multiply 4800 at oil prices because some is gas 1 bbl = 6 mcf which works out to around $48 for boe and some of cook is gas not sure of ratio so I assumed 200 boepd from cook so 3600 bopd and 1200 boepd. So $39.02 million revenue with one time special 185,000 bbls for around 19.425 million added on. Just a guess from NR's I have not talked to anyone from IAE.