Banter and general comments, page-35257

Spot Prices have dropped another 40% since October. So the realised price this quarter will be considerably lower than the ~$2500 last quarter.

But your assessment is right, that they should still be profitable. Though considerably less for this quarter than last.

What management is doing is starting to reign in additional spending in case the prices continue to deteriorate by pausing expansion works on BP33 and other drilling. Likewise, they are identifying means to improve costs in current operations which should move them down the cost curve and allow them to survive should the price drops continue.

Whilst painful now, so long as they get through this period, it could be of significant benefit in the long run.