What this means is that Beach is extremely well placed to weather a prolonged period of lower oilprices if that were to occur. The highly discretionary nature of our capital expenditure program meansthat we can generate positive free cash flow down to an oil price of US$15 per barrel if we needed toreduce our exploration spend.With all of this, Beach is now a far more resilient company.
Extract from the AGM. The oil price is volatile!!! the best insurance is to be a low cost producer and have no debt!!! So when opportunities present themselves you are ready to pounce!!!
Ann: 2018 AGM addresses and presentation, page-16
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