PSA 0.00% 2.1¢ petsec energy limited

disappointing result, page-2

  1. 6,389 Posts.
    ANother question is that big DDA which really wiped out the profits.

    Correct me if I am wrong, but:

    1. That is a "non cash" charge isn't it?

    2. The charge was based up some reserve number calculated by Ryder Scott.

    So if the production is GREATER than that of the number written down (whatever that happens to be since we don't know ????), what happens on to the accounts - the amount received flows directly down to the income statement as 100% profit with no D & A?
 
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