Its a good announcement IMO.
Hedging their oil price so that they reduce price volatility is a wise move IMO. They also still maintain plenty of scope to take advantage of a rising oil price.
I like the update on the drilling of the 3 new wells.
Previous Announcement Versus Current Announcement
Previous
Current
I also like that we are seeing a strong flow in news and announcements.
I think this news flow will continue towards the end of this year and into the new year, which will provide a good catalyst for a rising share price.
Ann: Rising oil prices - Hedging Update, page-3
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