This may one of the earliest tangible signs that AOE are growing profits, not just sales and bluesky. Still many csm sceptics, eg John Campbell of OGW. To them it would't matter if Exxon moved into the game, to them it just aint real gas. Since AOE won't be paying tax for a while A$25 to $29 annualised ain't bad on the face of it.
I hope however there are no smoke and mirrors, does look a little too good to be true? On 7.5 PJ produced for the half? something looks cooked? There is only one month from Enertrade in there (roughly $2mm in my expectations) it's starting to look implausible without some kind of accounting abnormality.
Let's hope that it is repeatably premium margins for electricity.
If it is all window dressing I"ll be dissapointed.
EL
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