Ann: First Acquisition for 2018, page-4

I think the announcement states that the new acquisition had a net operating income for 2017 of $1.3million. Therefore 30% of that figure will go to WBE.

Making income from this acquisition = 0.3 x $1,300,000 (this is @ a NETBACK of ~$8/BOE)

= $390,000

Add this to our figure of (400-135 = 265BOE/day) number @ a NETBACK of $8

(265 x 365) x $8
= $773,800

Giving a total income from Point Loma of

= $1,163,800 Canadian $'s per year

Correct me if I am wrong here please