Year 1 2 3

oil price $bbl 70 70 70

MMbbl
$ mill
Opex $ mill
Net Revenue $ mill
Exploration $ mill 30
Appraisal $ mill 50
Development $ mill 400
Net Cash Flow $ mill -30 -50 -400
Comulative Cash Flow $ mill -30 -80 -480
Discount Factor 10% 0.90909 0.826 0.751
Discount Cash Flow $ mill -27.2727 -41.3 -301
 4 5 6 7 8 9 10 Total
70 70 70 70 70 70 70
15 10 7 5 3 40
1050 700 490 350 210 2800
115 90 75 65 55 400
935 610 415 285 155 2400
30

200 200 50
-200 -200 935 610 415 285 155 1520
-680 -880 55 665 1080 1365 1520 2535
0.683 0.621 0.564 0.513 0.467 0.424 0.386 6.145
-137 -124 527.8 313 193.6 120.9 59.76 585.1