I concur Dr D and according to the entitlement booklet under the heading/ "Oil production generating strong cash flows" we are receiving *Strong oil pricing [Brent]... which indicates we're getting approx Brent Spot for our oil and "High net back of A$70 per barrel" [at Brent price of A$100/bbl, with delivered opex]. While Brent spot is only US$97 [see table below] currently, that still shows approx A$70/bbl profit for SXY as poster N5435137 predicted on another sxy thread. Also from booklet... *Net 2P oil reserves of 8.1 mmbbl with peak production of over 6000bopd which was achieved during May 2012
Other "Oil Production..." bulleted points in booklet are *Major land position with operatorship *Fast drill and tie-in with high flow rates *Pipelines under construction to increase production and ensure delivery *Low risk exploration on 3D seismic *Aggressive exploration and appraisal programs to boost exploration and cash flow commenced in 2011/12
SXY Price at posting:
71.0¢ Sentiment: LT Buy Disclosure: Held