Company Estimate Report as of December 31, 2018

EX-10.2 3 ex_134303.htm EXHIBIT 10.2 ex_134303.htm

Exhibit 10.2

Total Cashflow from Proved Developed Producing Reserves in US dollars

Total Revenue

Operating

Expenses

Plug and

Abandonment

Expenses

Investments

Production and

Property Taxes

Net Cashflow

before

income taxes

Income tax

expense

Net

Cashflow

2019

12,169,055

7,785,801

400,000

1,116,128

2,867,126

239,833

2,627,293

2020

9,507,343

4,317,760

400,000

867,148

3,922,435

557,509

3,364,926

2021

8,935,032

4,186,257

400,000

813,340

3,535,435

490,755

3,044,680

2022

8,195,159

3,719,581

400,000

750,005

3,325,573

468,354

2,857,219

2023 and after

80,563,908

36,949,030

13,000,000

7,363,225

23,251,667

2,980,528

20,271,139

Total Isramco Inc.

119,370,497

56,958,429

14,600,000

10,909,846

36,902,236

4,736,979

32,165,257

Total Capitalized Cashflow from Proved Developed Producing Reserves in US dollars - various interest rates

10%

15%

20%

2019

2,627,293

2,563,975

2,505,026

2,449,963

2,398,379

2020

3,364,926

3,127,458

2,916,664

2,728,530

2,559,786

2021

3,044,680

2,695,060

2,399,164

2,146,827

1,930,139

2022

2,857,219

2,408,690

2,046,770

1,751,867

1,509,417

2023 and after

20,271,139

12,586,102

8,381,300

5,870,519

4,270,455

Total Isramco Inc.

32,165,257

23,381,286

18,248,924

14,947,706

12,668,176

Total Cashflow from Proved Developed Non-Producing Reserves in US dollars

Total Revenue

Operating

Expenses

Plug and

Abandonment

Expenses

Investments

Production and Property Taxes

Net Cashflow

before

income taxes

Income tax

expense

Net

Cashflow

2019

297,660

90,825

292,325

28,913

(114,403

)

(114,403

)

2020

486,519

243,478

45,000

47,461

150,580

2021

386,849

206,414

98,567

37,860

44,008

2022

1,545,283

217,937

165,625

140,613

1,021,108

267,453

753,655

2023 and after

8,499,844

1,435,889

748,232

6,315,724

1,389,459

4,926,265

Total Isramco Inc.

11,216,155

2,194,543

601,517

1,003,079

7,417,017

1,656,912

5,760,105

Total Capitalized Cashflow from Proved Developed Non-Producing Reserves in US dollars - various interest rates

10%

15%

20%

2019

(114,403

)

(111,646

)

(109,079

)

(106,681

)

(104,435

)

2020

150,580

139,953

130,520

122,101

114,550

2021

44,008

38,955

34,678

31,030

27,898

2022

753,655

635,346

539,881

462,094

398,142

2023 and after

4,926,265

3,484,113

2,568,727

1,948,907

1,510,871

Total Isramco Inc.

5,760,105

4,186,721

3,164,727

2,457,451

1,947,027

	Crude Oil				Natural Gas				Natural Gas Liquids				Oil price		Gas price
	PDP		PDNP		PDP		PDNP		PDP		PDNP
Year

2019		179.38		2.21		1,056.48		35.37		51.59		4.37	$	2.87	$	47.56
2020		142.20		2.55		730.20		69.50		35.02		8.07	$	2.67	$	48.86
2021		130.96		1.89		668.51		58.32		31.57		6.22	$	2.60	$	50.77
2022		115.59		16.52		595.70		179.32		28.80		5.87	$	2.86	$	51.84
2023 and after		1,164.62		115.55		5,352.19		638.09		242.04		24.37
Total		1,732.76		138.72		8,403.08		980.60		389.02		48.89

	Crude Oil				Natural Gas				Natural Gas Liquids
	Isramco share		Total Oil		Isramco share		Total Gas		Isramco share		Total NGL
Proved Developed Producing Reserves		1,732.8		44,449.2		8,403.1		247,132.6		389.0		1,849.0
Proved Developed Non-Producing Reserves		138.7		435.0		980.6		2,983.6		48.9		66.0
Total		1,871.5		44,884.2		9,383.7		250,116.2		437.9		1,915.0

2018 Sales Volumes and Revenue Data

			2018
Crude oil	Crude Oil Sales Volumes	Mbbl	184
	Average Oil Price	per Bbl	60.84
	Net Oil Revenues	thousands USD	11,195
Natural Gas	Natural Gas Sale Volumes	MMcf	1,119
	Average Gas Price	per MCF	2.8
	Net Gas Revenues	thousands USD	3,133
Natural Gas Liquids	Natural Gas Liquids Sales Volumes	Mbbl	59
	Average Natural Gas Liquids Price	per Bbl	27.19
	Net Gas Liquids Revenues	thousands USD	1,604
	Total Net Revenues	thousands USD	15,932