The other factor that will see to a sharp in revenue in Q2 is the fact that we had scheduled maintenance in Q1, so production will be much higher in Q2. The only downer will be the strong AUD.
I am surprised we haven't heard anything on the PEL96 rig front. Mind you, the delays can be caused by any number of reasons that is outside of the mgmt's control. So a bit of patience is required there.
Good to see the price appreciation in recent times though. About time the market start to price in some of the risked valuation for PEL96 as well as the Gulf drilling since they are both imminent.
We should also hear about Cadlao in the qtrly. Will be surprised if they don't proceed.
618
quarterly reports, page-5
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