Wrong actually.
Based on Belize alone, by my calculations, 1000 bpd production would be required to take Treaty PPS for this 750,000,000 share company to 35 to 50 cents (this range based on significant uncertainty in oil price, capital and operating costs with the lower end based on BNEs cost base and the higher end based on very low costs). IMO
Interested in why your calculations give very different results to this.
Regarding Belize, please note that Treaty is doing wildcat exploration in this country and do not know whether they will find oil in each well or not (in my view Treaty have no proof of an oil discovery or oil reserves yet).
The statistical average success rate quoted for wildcatting in the USA is 1 success in 10 wells. In Belize, the historical success rate is much worse than this (1 commercial field discovered in something like 40 wells). Fact.
I know nothing about Texas so I can't estimate or comment for there.
