note also cash increase of only $5m for the quarter - would reflect high cost of shutdown.
I calculate 2010 profit then as $88m - basis started year at $247m, less $110m capital return = $137m, now $225m.
$88m is a long way short of the $150m bandied about.
when investing in MRE you need to remember this:
Management have always over-promised, under-delivered.
You need to take 2011 production forecasts with a grain of salt. I use 30K for share price valuations.
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