Not bad, holding steady revenue despite a 22% slide in the price of oil and still added cash reserves in the face of large exploration/development/aquasition expendatures. A few delays but extra value in the Offshore Perth Basin drilling.
I see things ramping up in Feb with the start of Sugarloaf testing and start of exploration wells in the Perth Basin then a huge March with:
* Onshore Perth basin 2 -3 exploration wells
* Spud in Offshore Perth Basin drilling of 2-3 wells
* Spud of 2-3 Yemen wells
* Some Sugarloaf results
All of this flows on into April/May by then final Sugarloaf commerciality will be known along with some of the above exploration results then straight into 8 high impact targets in the Canning.
Very exciting with massive upside, downside largely secured by steady production and future drilling. What other oil co has such a quality diversified exploration program like this compressed into such a short time frame? Wow, just sit back and enjoy the ride!
qtrly out, page-5
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