Open with il well has produced consistently for the last five years. The monthly oil production for eadh year is given in the table below. It costs $50,000 per year to operate the well, the current oil price is $50/STB, and the production tax is 8% of the gross value. The well is not producing any associated gas Compute the following (use and state appropriate assumptions with justifications if required): a. The EL based on 100% WI and 90% NRI b. Determine the likely decline model c. The remaining oil reserves as of 1/1/2017 d. Production rate at the end of 2020 e. The remaining life of the well f. Ultimate oil recovery g. Production for the year 2019 h. Gross revenue after production tax for the year 2019. i. Net revenue for the year 2019. 14] 14] If additional income tax of 10% is imposed, what will be the net revenue for the year 13] 2019? Year 2012 2013 2014 2015 Oil Production STB 8,950 7,940 7,040 6,245 5,535 Open with il well has produced consistently for the last five years. The monthly oil production for eadh year is given in the table below. It costs $50,000 per year to operate the well, the current oil price is $50/STB, and the production tax is 8% of the gross value. The well is not producing any associated gas Compute the following (use and state appropriate assumptions with justifications if required): a. The EL based on 100% WI and 90% NRI b. Determine the likely decline model c. The remaining oil reserves as of 1/1/2017 d. Production rate at the end of 2020 e. The remaining life of the well f. Ultimate oil recovery g. Production for the year 2019 h. Gross revenue after production tax for the year 2019. i. Net revenue for the year 2019. 14] 14] If additional income tax of 10% is imposed, what will be the net revenue for the year 13] 2019? Year 2012 2013 2014 2015 Oil Production STB 8,950 7,940 7,040 6,245 5,535