Production (bbd) (MEO)

100

200

500

1000

Production year(365 days)

365

36500

73000

182500

365000

Revenue ($100/b)

100

3 650 000,00 $

7 300 000,00 $

18 250 000,00 $

36 500 000,00 $

Net Revenue

80%

2 920 000,00 $

5 840 000,00 $

14 600 000,00 $

29 200 000,00 $

Net Revenue

70%

2 044 000,00 $

4 088 000,00 $

10 220 000,00 $

20 440 000,00 $

Net Revenue

60%

1 226 400,00 $

2 452 800,00 $

6 132 000,00 $

12 264 000,00 $

Net Revenue

50%

613 200,00 $

1 226 400,00 $

3 066 000,00 $

6 132 000,00 $

# shares (in Million)

190

Earning/share

80%

0,0154 $

0,0307 $

0,0768 $

0,1537 $

Earning/share

70%

0,0108 $

0,0215 $

0,0538 $

0,1076 $

Earning/share

60%

0,0065 $

0,0129 $

0,0323 $

0,0645 $

Earning/share

50%

0,0032 $

0,0065 $

0,0161 $

0,0323 $

P/E ration(10)

80%

0,1537 $

0,3074 $

0,7684 $

1,5368 $

P/E ration(10)

70%

0,1076 $

0,2152 $

0,5379 $

1,0758 $

P/E ration(10)

60%

0,0645 $

0,1291 $

0,3227 $

0,6455 $

P/E ration(10)

50%

0,0323 $

0,0645 $

0,1614 $

0,3227 $

P/E ration(15)

80%

0,2305 $

0,4611 $

1,1526 $

2,3053 $

P/E ration(15)

70%

0,1614 $

0,3227 $

0,8068 $

1,6137 $

P/E ration(15)

60%

0,0968 $

0,1936 $

0,4841 $

0,9682 $

P/E ration(15)

50%

0,0484 $

0,0968 $

0,2421 $

0,4841 $

Note

Oil in Tennessee is a premium oil (very light and no sulfur)

Access for delivery is very easy ( not in the forest)

No overhead has been calulated as no base

Compare with Petrolifera (in the forest, oil sold at $48,90 and 51 M shares)