If you’ve invested in any oil and gas companies in the last 10 years you will know debt is not a good place to be. The oil market is volatile! And unfortunately the RBA don’t have much control over interest rates at the moment, the banks are setting the rates, as the funding is coming from the USA who are increasing rates. The only person who knows where interest rates will go in the next two years is the pie in the sky! So I think not having debt is one less risk factor for a company to worry about if things go sour. It also gives the company the huge advantage of being able to act counter cyclically, when no one else can.
Ann: Quarterly Report for the period ended 30 September 2018, page-7
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