Leeson's take on NRI Production breakdown, in my opinion a valued poster who'd been following Afren for a couple of years. Taken from his thread on ADVFN BB.
Leeson31 - 17 Mar'09 - 19:06 - 23916 of 23932
Production:
Okoro/Setu 22,000bopd (afr nri 90% = 19,800bopd until capex recouped circa $230m - then nri reverts to 50% = 11,000bopd)
Cote D'Ivoire 5,200boepd + additional production since gaining the field 700boepd = 5,900boepd (afr entitlement = 3,000boepd + 48% of the 700boepd = 3,336boepd) (circa 1200bopd Oil + 2136boepd=12.8mmcfpd Gas)**************
Gross production = 27,900boepd (O/S + C'D)net Afr nri currently = 23,136boepd (O/S 19,800bopd + C'D 3,336boepd)
Okoro setu nri 19800bopd of which 17% is hedged at $55 (3366bopd = $185,130/day) 83% at market price circa $40/b = (15,687bopd) $627,480/day
Cote d'ivoire all oil hedged at $85 circa 1200bopd nri = $102,000/daycote divoire gas circa 12.8mmcfpd * $4/mcf = $51,200/day
Totals : $185.1k + $627.5k + 102k + 51.2k = $965.8k/day to pay off okoro setu capex costs. no prob.
Reading the email from galib previously on this thread they will pay down usd105m to reduce debt to $325m including the loan notes....
Check the premium thread for correspondence from the company re debt, and ebok etc..and other summaries..hope of use.
Tuesday, March 17, 2009
Good Post - ADVFN - Leeson's take on NRI production breakdown
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