Ann: Investor Roadshow Presentation, page-5

It's amazing to the in FY 14 the cash flow was almost equal to today's market cap. It really highlights leverage to the oil price. I was thinking the scalability of the CB oilers. Unlike a gold company that had high fixed costs of operating mine , and they most operate at a given level to maintain costs , the CB business made up of an amalgam of small oil fields, in times of low oil price, exploration and appraisal adjusted back and valuable reserves stay in the ground. When oil price rises , revenue increases and drives further exploration.
Dls also has a 12 month window of robust revenue through hedges in which to place themselves in a superior position to their rivals. This improves their relative strength to grow organically and or through acquisition