big profits, page-2

Great to see the second Vermilion accelerator well is in production at long last and that Main Pass drilling is getting closer.
I think the Media Release accompanying the quarterly will prove to be more than a bit slightly mis-leading when they say(in the first paragragh) that 'profit' for the year ended 31 Dec 2004 will be significantly higher(than 2003) - they're talking about EBITDAX but that's not 'profit'.I was hoping that they would clarify how much DD&A expense would be for the 2004 year - now we have to wait for the end of Feb before finding that out.
But in the end the 'profit' for 2004 doesn't matter but cashflow for 2005 does and that figure should be sensational.