RE:RE:RE:RE:New Press Release - Sonoro Energy Announces Financing and Provides Update on WCSB Farm-InMehmetPasha wrote: And now a bit of maths they have 300-400k left , they have 2 million off the back of this financing , warrants come in above 10'cents circa 1.5 million dollars and now the additional warrants at 12 cents circa 1 million. It costs 500-550 k to spud a well... we will therefore be able to have 9 wells in production come year end / first quarter 2024. Basis the free cashflow that comes from that we easily able to have 27 wells in production during 2024. Making sonoro very profitable and cashed up for possible expansions projects !!!!
Let's explore this a bit....
With 9 wells:
1350 bboe/d (conservative based on per well $'s numbers provided in previous PR)
$80 oil
Gross Monthly Rev: $3,240,000
Gross Annual Rev: $38,888,000
70% Monthly Rev: $2,268,000
70% Annual Rev: $27,221,600
With 27 wells:
4050 bboe/d
$80 oil
Gross Monthly Rev: $6,804,000
Gross Annual Rev: $116,640,000
70% Monthly Rev: $2,268,000
70% Annual Rev: $81,648,000
Don't know what the profit is on each barrel, but the PR said they expect "robust netbacks". Could be even better if oil keeps going up and and if the reserve report is strong, and we can pump more then 150 bboe/d/well/day.
This is worth much more then 6 cents a share, just need to confirm some assumptions and the market to start to understand these economics.