worth a little research

Trader may be interested in reading the recent AGM presentation for AMU (ASX Announcement 14/10/2009).
The presentation showed AMU generated approximately $30m. cashflow from operations. It had operating costs of US$14.90BOE and last year produced 458,000 Barrels of Oil & had gas production of 1.6BCF.
AMU have extended their debt facility & the board has committed to reducing debt by US$9m. over the next 12 months. The current SPP at 26 cents which closes on the 16/10/2009 is expected to $7.5m. that will go towards reducing the outstanding debt (refer ASX Announcement). On the 15/9/2009 the company announced production had stabilized at its new wells on the Longville Project at 530 BOPD & 2.3 MMCFPD (913 BOEPD).
AMU looks like it may finally be on the recovery path with debt reduction,improving production & stronger oil & gas prices now starting to kick in for the company.
AMU have also broken through their downtrend on the chart with associated high volume which is always a good sign.
Regards
Buffett
PS Although I have purchased 300,000 shares today, please note no investment advice is given on AMU so please do your own research.