Banter and general comments, page-29445

A couple of points to consider:
* production to date has been on a campaign basis, meaning the facility is switched on and off. That means lower average production rates and higher per unit costs. That will change when they go to steady state production.
* CXO have fessed up ALL "sins", meaning they have re-set expectations much lower and (most likely) to levels that will be easily achievable so they can then show continued outperformance at subsequent quarterly reporting periods.
* sales on 80k - 90k for FY24 & FY25 will generate positive cashflows with gross revenues in the order of A$500m - $590m p.a. translating to EBITDA forecasts of between A$300m - $375m p.a. This will fund the companies short term CAPEX requirements including ambitious drilling campaign. That means we will have money to keep doing what we are doing without the need for any further capital raisings.

I could go on, but it is clear that Gareth has done what every new CEO would do. He has come clean on all the problems faced by CXO and re-set market expectations of future deliverables.

As investors, we simply need to let him and the team go to work and deliver on the plans for Finiss, BP33 and the other projects that will add value to our respective investments.

Rome wasn't built in a day. Be patient (and don't keep bothering the team with uninformed chatter).