they say it is now at $40 a barrel, but thats a point in time... they get daily quotes. if you do barrels produced/ receipts you get an average of $22 a barrel over the quarter... note there is gas in there too.
shouldnt be a shock, popb was in the negatives for a while there on the futures market.
the maths suggests that $40 is break even with royalties and opex... forget about profit. so wont be a rex 4 until we see circa $50 popb ... then I'll buy.
Ann: Quarterly Activities & Cashflow Report, page-9
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