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  4. TransGlobe Energy Corp. (TGA) Message Board

skunk in the wood pile what happened to all that p

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Post# of 163
(Total Views: 221)
Posted On: 08/10/2022 7:27:34 AM
Posted By: farml1234
skunk in the wood pile what happened to all that production
From 1st qt report
Re::The Company has a cargo of Gharib blend crude scheduled to ship at the end of April through early May, with proceeds expected in June, 2022.
Now this is 2nd Qt report [ this was lifting that was reported as scheduled ]
Re:Second quarter sales averaged 12,609 boe/d including 104.0 Mbbls sold to EGPC for proceeds of $11.8 million and one cargo lifting of 451.0 Mbbls of entitlement crude oil sold for proceeds of $46.3 million;
Now the company expects us to believe our share of Egypt production for two months ] May and June ] was only 104,000 barrel of crude

Now something stinks in Mr CEO Neely land , our share of this 104,000 would average about 1,733 barrel of production per day !

Now do the math people 1,733 X 365 days = 632,666 for a full year and we sell about 4 cargos a year

Now people my guess we just found out why we changed auditors again . JMHO

Mr Neely my guess you could have some explaning to do

Question is is my math correct ?


Note from the 1st qt report [ The Company has a cargo of Gharib blend crude scheduled !Has means the production is on inventory !!! Correct
JMHO


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