RE:RE:Brent at $88.58Yes, 87.5%. The 51% on slide 15 of the corporate presentation goes to the SPV. VLE gets 87.5% of that.
It's 87.5% of 51% of gross revenue with tax losses applied for net near term profit.
It works out to about CA$50 a barrel net for VLE with current exchange. At 25000 barrels production, that's a cool CA$1.25 million a day net. Annually close to CA$400 million or about CA$4+ a share.
Five months as if end of this month will be owed from Mubadala. Simply put, 21000 barrels at $50 makes $1.05 million a day x 150 days is $153.5 million cash before tax assuming none of the EBITDA has been spent by Mubadala. $1.50+ per share cash without Wassana.