please answer number 20, 18, 9, 10, 11 (9,10,11 are three parts of one data set)

20. Yost Petroleum is considering drilling one well on either the Rivera lease or the Cade lease in Texas. Force does not have sufficient funds to drill both wells and must decide which of the two wells to drill. Information relating to each of the wells follows: Rivera Well Cade Well Drilling cost $500,000 $400,000 Completion cost 400,000 450,000 Selling price ($/bbl) 120 120 Lifting cost ($/bbl) 24 24 State severance tax 6% 6% Royalty interest percentage 12% 12% Estimated monthly production 1,000 bbl 750 bbl REQUIRED: Using the payback method, determine which well Yost should drill. 21. Seaside Corporation is considering beginning drilling operations in three separate fields. Seaside decides to analyze these fields using a 13% discount rate. The estimated cash flows for each field are as follows: East Field South Field West Field Years Cash Flows Cash Flows Cash Flows 0 $(105,000) $(425,000) $(300,000) 1 40,000 100,000 50,000 2 35,000 100,000 50,000 3 30,000 100,000 50,000 4 20,000 100,000 50,000 5 15,000 90,000 50,000 10,000 90,000 40,000 7 40,000 90,000 5,000 40,000 6 nam 18. A saltwater disposal system is added to Lease A's gathering system at a cost of $225,000. Assume the following acquisition costs and monthly operating expenses for the month of May 2018 is $30,000. Case A: The disposal system serves several wells on two different leases. There are 7 wells on Lease A and 10 wells on Lease B. Case B: The disposal system serves only the wells on Lease A. REQUIRED: Record the acquisition cost and the monthly expenses. ... 20 . . . . . 9. Oltman Petroleum data in connection with Lease A are as follows: Property cost (acquisition cost)... $ 50,000 Drilling cost (one well) 300,000 Estimated completion 700,000 Estimated selling price ($/bbl)... 120 Estimated lifting cost ($/bbl). State severance tax. 6% Royalty interest 12.5% Case A: 5,000 bbl Case B: 10,000 bbl Case C: 15,000 bbl REQUIRED: Should the well be completed, assuming the following total production? Discuss your answer. 10. Assuming the same data as given in problem 9, was the well in each case profit- able? Discuss your answer. 11. Assume the same data as given in problem 9, except the company expects the following production: Case A: 300 bbl per month Case B: 500 bbl per month REQUIRED: a. Determine the number of months needed for payout. b. Would an investment in this property be considered successful if an investor wanted a 30-month payout