Ann: Half Year Accounts, page-8

Some very promising numbers there. Underlying NPAT of $2.2M for the half year despite this being prior to the new contracts starting is impressive.

Margin for this HY inclusive of D&A was $2.33/GJ, if we use the January price of $9.70 it goes up to $4.07/GJ, with slightly higher net production too from the new wells.

And that's the clearest indication yet of their intent to start shareholder distributions. It annoys me that we need to resort to this to get the market to appreciate the value, but if that's what it's going to take, bring on a buyback.