my quick calc, says they earn about 11million pa profit from the galoc field.
(14000 bopd x 365 x 12 margin taxed x 18%)
Handy bit of revenue for them,
put that with some jvs with BHP, and gas exploration upside.
= winner IMO.
Have read some articles suggesting their lowly market cap, presents them a t/o target.
Plenty of upside for entry atm, support above the rights issue.
So there is a raising to carry us until the revenue streams come in late 2009.
You cant pick the bottom, and i didnt wait on this one.
the spudding in italy, might be all it takes to get the market excited again, and it might never look back.
cheers
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