SUMMARY OF ACTIVITIES
$3.6 million net cashflow for the quarter, increasing cash to $16.98m
Rig procurement underway for Paus Biru-1 exploration well
Total net production of 30,132 barrels (bbls) of oil and 381 million cubic feet (mmcf) of gas.
$7.18 million cash received from oil and gas sales
$16.98 million cash and no debt.
Indonesia: Preparations for Paus Biru-1 Exploration well in Sampang PSC continued with expected drill timing of Q4 2018
Step Change Opportunities
Production & Financial Summary
Revenue during the quarter increased by 7% due to 2017 Oyong oil revenue received
$7.18 million cash received on oil and gas sales comprising of:
26,749 bbls at an average price of US$70.14/bbl
20,381 bbls at a price of US$46.86/bbl from delayed 2017 Oyong Oil revenue
gas sales of 366 mmcf at an average price of US$7.18 per thousand cubic feet (Mcf).
Production expenditure lower due to timing of Joint Venture payments