RE:Listened to Webcast on Sunday You confused the revenue numbers with the fcf numbers....totally off. Pricing most probably won't be above Brent, but with a $2-3 penalty to Brent. Only Nong Yao has light sweet crude, the rest is medium sweet crude or a mix. If you compare it with the average Brent pricing (like VLE does), it depends on the timing of the cargos = a illusion of a premium, because the timing was nice.
Without a second rig it is impossible to reach 25k bpd (personally I think 23k is max, but the decline rates of the Nong Yao expansion are a wildcard. If the decline rate there is below the average...it could change the picture).
After Q2, you'll be surprised, that there won't be enough cash for a) an acquisition and b) for shareholder rewards. It will be the kitchen sink Q for the year.
Expanding Wassana will cost (like Nong Yao) 80-100m and will take a year.
Imho, they can do around $120m fcf p.a....before growth capex.