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Average for AUD-USD last Quarter was 72.2 cents not 75 cents that's why got $52AUD not AUD$47/barrel net
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This quarter AUD-USD average expected is around 77 cents
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If this Quarter oil stays around $42/barrel average(Let us trust EIA time being) Santos will get A$54/Barrel i.e. only 2 dollars improvement( benefit) from rise in oil price. Rise in oil price gets eaten up by rising AUD dollar.
Ann: 2016 First Quarter Activities Report-STO.AX, page-5
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