Anonymous
timer Asked: Apr 15th, 2020

Question Description

fill the empty excel sheet the same way that the other excel sheet does regard to answer the questions in the word document, in another words, in term to answer the questions, you have to do the same thing as in the filled excel sheet but with the required" different" numbers.

Also, Peep1 - Excel Spring 2020.docx is the assignment for the solved PEEPProject.xlsx excel document. Revised PEEP assingment.docx is the main assignment that has to be solved

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Per year Per month BTUs per scf Ownership Effective decline rate (De) Nominal decline rate (D) Stop production at Gas production ratio Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 BOPD scf/stb Oil production rate (in BOPD) Cumulative oil Production at end of production period number period (in STBs) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Totals → Period oil production (not limited) (in STBs) Period oil production (limited) (in STBs) Period gas production (limited) (in mscf) Period gas production (limited) (in mmbtu) Period NRI oil production (in STBs) 10/1/2024 11/1/2024 12/1/2024 1/1/2025 2/1/2025 3/1/2025 4/1/2025 5/1/2025 6/1/2025 7/1/2025 8/1/2025 9/1/2025 10/1/2025 11/1/2025 12/1/2025 1/1/2026 2/1/2026 3/1/2026 4/1/2026 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 5/1/2027 6/1/2027 7/1/2027 8/1/2027 9/1/2027 10/1/2027 11/1/2027 12/1/2027 1/1/2028 2/1/2028 3/1/2028 4/1/2028 5/1/2028 6/1/2028 7/1/2028 8/1/2028 9/1/2028 10/1/2028 11/1/2028 12/1/2028 1/1/2029 2/1/2029 3/1/2029 4/1/2029 5/1/2029 6/1/2029 7/1/2029 8/1/2029 9/1/2029 10/1/2029 11/1/2029 12/1/2029 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 1/1/2030 2/1/2030 3/1/2030 4/1/2030 5/1/2030 6/1/2030 7/1/2030 8/1/2030 9/1/2030 10/1/2030 11/1/2030 12/1/2030 1/1/2031 2/1/2031 3/1/2031 4/1/2031 5/1/2031 6/1/2031 7/1/2031 8/1/2031 9/1/2031 10/1/2031 11/1/2031 12/1/2031 1/1/2032 2/1/2032 3/1/2032 4/1/2032 5/1/2032 6/1/2032 7/1/2032 8/1/2032 9/1/2032 10/1/2032 11/1/2032 12/1/2032 1/1/2033 2/1/2033 3/1/2033 4/1/2033 5/1/2033 6/1/2033 7/1/2033 8/1/2033 9/1/2033 10/1/2033 11/1/2033 12/1/2033 1/1/2034 2/1/2034 3/1/2034 4/1/2034 5/1/2034 6/1/2034 7/1/2034 8/1/2034 9/1/2034 10/1/2034 11/1/2034 12/1/2034 1/1/2035 2/1/2035 3/1/2035 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 4/1/2035 Ownership Period NRI gas production (in mmbtu) Totals → Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 Project period number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Oil price Oil price offset Oil net price Gas price Gas price offset % Gas net price Gross oil revenues 10/1/2024 11/1/2024 12/1/2024 1/1/2025 2/1/2025 3/1/2025 4/1/2025 5/1/2025 6/1/2025 7/1/2025 8/1/2025 9/1/2025 10/1/2025 11/1/2025 12/1/2025 1/1/2026 2/1/2026 3/1/2026 4/1/2026 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 5/1/2027 6/1/2027 7/1/2027 8/1/2027 9/1/2027 10/1/2027 11/1/2027 12/1/2027 1/1/2028 2/1/2028 3/1/2028 4/1/2028 5/1/2028 6/1/2028 7/1/2028 8/1/2028 9/1/2028 10/1/2028 11/1/2028 12/1/2028 1/1/2029 2/1/2029 3/1/2029 4/1/2029 5/1/2029 6/1/2029 7/1/2029 8/1/2029 9/1/2029 10/1/2029 11/1/2029 12/1/2029 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 1/1/2030 2/1/2030 3/1/2030 4/1/2030 5/1/2030 6/1/2030 7/1/2030 8/1/2030 9/1/2030 10/1/2030 11/1/2030 12/1/2030 1/1/2031 2/1/2031 3/1/2031 4/1/2031 5/1/2031 6/1/2031 7/1/2031 8/1/2031 9/1/2031 10/1/2031 11/1/2031 12/1/2031 1/1/2032 2/1/2032 3/1/2032 4/1/2032 5/1/2032 6/1/2032 7/1/2032 8/1/2032 9/1/2032 10/1/2032 11/1/2032 12/1/2032 1/1/2033 2/1/2033 3/1/2033 4/1/2033 5/1/2033 6/1/2033 7/1/2033 8/1/2033 9/1/2033 10/1/2033 11/1/2033 12/1/2033 1/1/2034 2/1/2034 3/1/2034 4/1/2034 5/1/2034 6/1/2034 7/1/2034 8/1/2034 9/1/2034 10/1/2034 11/1/2034 12/1/2034 1/1/2035 2/1/2035 3/1/2035 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 4/1/2035 Gross gas revenues NRI oil revenues NRI gas revenues Total Totals → Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 Project period number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Oil Oil Gas Per well per month costs Fixed costs Per mcf costs Overhead (fixed) costs Total 10/1/2024 11/1/2024 12/1/2024 1/1/2025 2/1/2025 3/1/2025 4/1/2025 5/1/2025 6/1/2025 7/1/2025 8/1/2025 9/1/2025 10/1/2025 11/1/2025 12/1/2025 1/1/2026 2/1/2026 3/1/2026 4/1/2026 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 5/1/2027 6/1/2027 7/1/2027 8/1/2027 9/1/2027 10/1/2027 11/1/2027 12/1/2027 1/1/2028 2/1/2028 3/1/2028 4/1/2028 5/1/2028 6/1/2028 7/1/2028 8/1/2028 9/1/2028 10/1/2028 11/1/2028 12/1/2028 1/1/2029 2/1/2029 3/1/2029 4/1/2029 5/1/2029 6/1/2029 7/1/2029 8/1/2029 9/1/2029 10/1/2029 11/1/2029 12/1/2029 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 1/1/2030 2/1/2030 3/1/2030 4/1/2030 5/1/2030 6/1/2030 7/1/2030 8/1/2030 9/1/2030 10/1/2030 11/1/2030 12/1/2030 1/1/2031 2/1/2031 3/1/2031 4/1/2031 5/1/2031 6/1/2031 7/1/2031 8/1/2031 9/1/2031 10/1/2031 11/1/2031 12/1/2031 1/1/2032 2/1/2032 3/1/2032 4/1/2032 5/1/2032 6/1/2032 7/1/2032 8/1/2032 9/1/2032 10/1/2032 11/1/2032 12/1/2032 1/1/2033 2/1/2033 3/1/2033 4/1/2033 5/1/2033 6/1/2033 7/1/2033 8/1/2033 9/1/2033 10/1/2033 11/1/2033 12/1/2033 1/1/2034 2/1/2034 3/1/2034 4/1/2034 5/1/2034 6/1/2034 7/1/2034 8/1/2034 9/1/2034 10/1/2034 11/1/2034 12/1/2034 1/1/2035 2/1/2035 3/1/2035 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 4/1/2035 Tax rates 12,60% 11,10% Totals → Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 Project period number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Oil Gas Production taxes Production taxes Total 10/1/2024 11/1/2024 12/1/2024 1/1/2025 2/1/2025 3/1/2025 4/1/2025 5/1/2025 6/1/2025 7/1/2025 8/1/2025 9/1/2025 10/1/2025 11/1/2025 12/1/2025 1/1/2026 2/1/2026 3/1/2026 4/1/2026 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 5/1/2027 6/1/2027 7/1/2027 8/1/2027 9/1/2027 10/1/2027 11/1/2027 12/1/2027 1/1/2028 2/1/2028 3/1/2028 4/1/2028 5/1/2028 6/1/2028 7/1/2028 8/1/2028 9/1/2028 10/1/2028 11/1/2028 12/1/2028 1/1/2029 2/1/2029 3/1/2029 4/1/2029 5/1/2029 6/1/2029 7/1/2029 8/1/2029 9/1/2029 10/1/2029 11/1/2029 12/1/2029 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 1/1/2030 2/1/2030 3/1/2030 4/1/2030 5/1/2030 6/1/2030 7/1/2030 8/1/2030 9/1/2030 10/1/2030 11/1/2030 12/1/2030 1/1/2031 2/1/2031 3/1/2031 4/1/2031 5/1/2031 6/1/2031 7/1/2031 8/1/2031 9/1/2031 10/1/2031 11/1/2031 12/1/2031 1/1/2032 2/1/2032 3/1/2032 4/1/2032 5/1/2032 6/1/2032 7/1/2032 8/1/2032 9/1/2032 10/1/2032 11/1/2032 12/1/2032 1/1/2033 2/1/2033 3/1/2033 4/1/2033 5/1/2033 6/1/2033 7/1/2033 8/1/2033 9/1/2033 10/1/2033 11/1/2033 12/1/2033 1/1/2034 2/1/2034 3/1/2034 4/1/2034 5/1/2034 6/1/2034 7/1/2034 8/1/2034 9/1/2034 10/1/2034 11/1/2034 12/1/2034 1/1/2035 2/1/2035 3/1/2035 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 4/1/2035 Totals → Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 0 Project period Capital number expenditures 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 10/1/2024 11/1/2024 12/1/2024 1/1/2025 2/1/2025 3/1/2025 4/1/2025 5/1/2025 6/1/2025 7/1/2025 8/1/2025 9/1/2025 10/1/2025 11/1/2025 12/1/2025 1/1/2026 2/1/2026 3/1/2026 4/1/2026 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 5/1/2027 6/1/2027 7/1/2027 8/1/2027 9/1/2027 10/1/2027 11/1/2027 12/1/2027 1/1/2028 2/1/2028 3/1/2028 4/1/2028 5/1/2028 6/1/2028 7/1/2028 8/1/2028 9/1/2028 10/1/2028 11/1/2028 12/1/2028 1/1/2029 2/1/2029 3/1/2029 4/1/2029 5/1/2029 6/1/2029 7/1/2029 8/1/2029 9/1/2029 10/1/2029 11/1/2029 12/1/2029 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 1/1/2030 2/1/2030 3/1/2030 4/1/2030 5/1/2030 6/1/2030 7/1/2030 8/1/2030 9/1/2030 10/1/2030 11/1/2030 12/1/2030 1/1/2031 2/1/2031 3/1/2031 4/1/2031 5/1/2031 6/1/2031 7/1/2031 8/1/2031 9/1/2031 10/1/2031 11/1/2031 12/1/2031 1/1/2032 2/1/2032 3/1/2032 4/1/2032 5/1/2032 6/1/2032 7/1/2032 8/1/2032 9/1/2032 10/1/2032 11/1/2032 12/1/2032 1/1/2033 2/1/2033 3/1/2033 4/1/2033 5/1/2033 6/1/2033 7/1/2033 8/1/2033 9/1/2033 10/1/2033 11/1/2033 12/1/2033 1/1/2034 2/1/2034 3/1/2034 4/1/2034 5/1/2034 6/1/2034 7/1/2034 8/1/2034 9/1/2034 10/1/2034 11/1/2034 12/1/2034 1/1/2035 2/1/2035 3/1/2035 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 4/1/2035 Petroleum Project Evaluation Model Effective Nominal Internal rates of return → Effective annual interest rate → Nominal annual interest rate (calculated using the NOMINAL function) → 5,00% 4,89% 10,00% 9,57% 12,00% 11,39% 15,00% 14,06% 30,00% 26,53% Totals → Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 Project period number Total NRI revenues Total operating expenses Total production taxes Net operating Capital income expenditures 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 RUN DATE: 4/15/2020 7:10 PM PAGE 23 OF 34 Before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Petroleum Project Evaluation Model Effective Nominal Internal rates of return → Effective annual interest rate → Nominal annual interest rate (calculated using the NOMINAL function) → 5,00% 4,89% 10,00% 9,57% 12,00% 11,39% 15,00% 14,06% 30,00% 26,53% Totals → Date 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 10/1/2024 11/1/2024 12/1/2024 1/1/2025 2/1/2025 3/1/2025 4/1/2025 5/1/2025 6/1/2025 7/1/2025 8/1/2025 9/1/2025 10/1/2025 11/1/2025 12/1/2025 1/1/2026 2/1/2026 3/1/2026 Project period number 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 RUN DATE: 4/15/2020 7:10 PM Total NRI revenues Total operating expenses Total production taxes Net operating Capital income expenditures PAGE 24 OF 34 Before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Petroleum Project Evaluation Model Effective Nominal Internal rates of return → Effective annual interest rate → Nominal annual interest rate (calculated using the NOMINAL function) → 5,00% 4,89% 10,00% 9,57% 12,00% 11,39% 15,00% 14,06% 30,00% 26,53% Totals → Date 4/1/2026 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 5/1/2027 6/1/2027 7/1/2027 8/1/2027 9/1/2027 10/1/2027 11/1/2027 12/1/2027 1/1/2028 2/1/2028 3/1/2028 4/1/2028 5/1/2028 6/1/2028 7/1/2028 8/1/2028 9/1/2028 10/1/2028 11/1/2028 12/1/2028 1/1/2029 2/1/2029 Project period number 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 RUN DATE: 4/15/2020 7:10 PM Total NRI revenues Total operating expenses Total production taxes Net operating Capital income expenditures PAGE 25 OF 34 Before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Petroleum Project Evaluation Model Effective Nominal Internal rates of return → Effective annual interest rate → Nominal annual interest rate (calculated using the NOMINAL function) → 5,00% 4,89% 10,00% 9,57% 12,00% 11,39% 15,00% 14,06% 30,00% 26,53% Totals → Date 3/1/2029 4/1/2029 5/1/2029 6/1/2029 7/1/2029 8/1/2029 9/1/2029 10/1/2029 11/1/2029 12/1/2029 1/1/2030 2/1/2030 3/1/2030 4/1/2030 5/1/2030 6/1/2030 7/1/2030 8/1/2030 9/1/2030 10/1/2030 11/1/2030 12/1/2030 1/1/2031 2/1/2031 3/1/2031 4/1/2031 5/1/2031 6/1/2031 7/1/2031 8/1/2031 9/1/2031 10/1/2031 11/1/2031 12/1/2031 1/1/2032 Project period number 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 RUN DATE: 4/15/2020 7:10 PM Total NRI revenues Total operating expenses Total production taxes Net operating Capital income expenditures PAGE 26 OF 34 Before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Petroleum Project Evaluation Model Effective Nominal Internal rates of return → Effective annual interest rate → Nominal annual interest rate (calculated using the NOMINAL function) → 5,00% 4,89% 10,00% 9,57% 12,00% 11,39% 15,00% 14,06% 30,00% 26,53% Totals → Date 2/1/2032 3/1/2032 4/1/2032 5/1/2032 6/1/2032 7/1/2032 8/1/2032 9/1/2032 10/1/2032 11/1/2032 12/1/2032 1/1/2033 2/1/2033 3/1/2033 4/1/2033 5/1/2033 6/1/2033 7/1/2033 8/1/2033 9/1/2033 10/1/2033 11/1/2033 12/1/2033 1/1/2034 2/1/2034 3/1/2034 4/1/2034 5/1/2034 6/1/2034 7/1/2034 8/1/2034 9/1/2034 10/1/2034 11/1/2034 12/1/2034 Project period number 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 RUN DATE: 4/15/2020 7:10 PM Total NRI revenues Total operating expenses Total production taxes Net operating Capital income expenditures PAGE 27 OF 34 Before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Petroleum Project Evaluation Model Effective Nominal Internal rates of return → Effective annual interest rate → Nominal annual interest rate (calculated using the NOMINAL function) → 5,00% 4,89% 10,00% 9,57% 12,00% 11,39% 15,00% 14,06% 30,00% 26,53% Totals → Date 1/1/2035 2/1/2035 3/1/2035 4/1/2035 Project period number RUN DATE: 4/15/2020 7:10 PM Total NRI revenues Total operating expenses Total production taxes Net operating Capital income expenditures PAGE 28 OF 34 Before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Discounted before-tax cash flow Petroleum Project Evaluation Model Note: The formula subtracts 1 from the period because PEEP assumes beginning of period payment of the lump sum (fv). RUN DATE: 4/15/2020 7:10 PM PAGE 29 OF 34 Petroleum Project Evaluation Model RUN DATE: 4/15/2020 7:10 PM PAGE 30 OF 34 Petroleum Project Evaluation Model RUN DATE: 4/15/2020 7:10 PM PAGE 31 OF 34 Petroleum Project Evaluation Model RUN DATE: 4/15/2020 7:10 PM PAGE 32 OF 34 Petroleum Project Evaluation Model RUN DATE: 4/15/2020 7:10 PM PAGE 33 OF 34 Petroleum Project Evaluation Model RUN DATE: 4/15/2020 7:10 PM PAGE 34 OF 34 Per year 28.0000% 32.8504% Effective decline rate (De) Nominal decline rate (D) Stop production at Gas production ratio Date Initial 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021 12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022 8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024 8/1/2024 9/1/2024 Per month Oil production rate (in BOPD) Cumulative oil Production at end of production period number period (in STBs) 450.00 437.85 426.02 414.52 403.33 392.43 381.84 371.53 361.49 351.73 342.23 332.99 324.00 315.25 306.74 298.45 290.40 282.55 274.92 267.50 260.28 253.25 246.41 239.75 233.28 226.98 220.85 214.89 209.08 203.44 197.94 192.60 187.40 182.34 177.41 172.62 167.96 163.43 159.01 154.72 150.54 146.48 142.52 138.67 134.93 131.28 127.74 Ownership 87.5000% 2.7375% 10.00 BOPD 225.00 scf/stb 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 BTUs per scf 1,050 13,511.10 26,657.34 39,448.58 51,894.40 64,004.14 75,786.87 87,251.41 98,406.37 109,260.10 119,820.73 130,096.18 140,094.16 149,822.14 159,287.44 168,497.13 177,458.13 ...
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