Golden Triangle Ventures Inc (GTVH)

[Dale C]

Damon Mound field:
11,000 est reserves
20 bpd gives a field life of 1.5 years
using oil price @ $100/bbl
lift cost @ $14/bbl = $143,000
field gross = $1,100,000
minus lift cost = $957,000
25% = 239,250

Damon Mound field has an estimated reserve of 11,000 barrels of oil. Lift costs which includes operating expenses would be $143,000 using $100/bbl that gives us a gross of $957,000 worth of oil. Our 25% gives BNPD $239,250 before taxes and overhead over the next 1.5 years. It looks like the lease will be profitable not spectacular but profit is profit.