I think you’re confusing cash flow and profitability. Cash flow has exceeded this QTR and the company has stockpiled oil due to the recent rains. The company finished 2023 with a net profit of $310k or 4.7% of sales.
I don’t think it’s unreasonable to say that with some of the initiatives such as second jet pump coming online in Cooper Basin, and Indonesia artificial lift profitability will improve for H2 of 2024.
Big back half of the year for us as some of these projects get valued into our share price and profitability improves.
Have a great weekend
Ann: Quarterly Activities Report and Appendix 5B - June 2024, page-12
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