TYK (VSE) Tanganyika Oil Message Board

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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil

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To: HotnSpicy who wrote (477)	2/1/2005 4:38:26 AM
From: TheRealJRL	of 500

You previously wrote "If Tishrin production is increased 6000 bpd to 12000 bpd gross, isn't TYK just getting 30% of the 6000 increase?" I used that increase to calculate 9150. I didn't write 179 as P3, I wrote that T+SM would increase P1+P2 (which is NOT equivalent to P3) with 80 MMbbl, this according to a statement made by Lukas Lundin a couple of months ago. At the Oudeh field the reserves, once again P1+P2, are 103 MMbbl, and in Egypt 6.3 MMbbl. Altogether we have 189 MMbbl. According to the Sproule report P1+P2 would have a price of $2.6 per barrel (269 MUSD/103.3 MMbbl) based on brent $27. Today brent is at $44, an increase of 60%. Increasing $2.6 with 60% gives $4. A example to illustrate the difference between tax-based PSA and oil-based PSA since you apparently don't understand it. Basic conditions: Production 10 000 boed Price per boe: $44 This is after the cost-recovery phase. - Oil based (Syria) TYK (or any other company) gets 2625 boep (10.0000,8750,3). Sells this for $115.500 (44x2625). Does NOT pay any tax on this. - Taxed base (e.g. Egypt) TYK (or any other company) gets 10 000 boep. Sells this for $440.000. Pays 75% tax and receives $110.000 So the "relatively unattractive PSA and royalty scheme in Syria" is equal or even better then any other PSA. Regards,

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