it’s been talked through many times that they have no sustained cashflow generation - it comes in and goes out then the wells water out they need to drill more they water out - it’s like a mouse of a treadmill, then they owe the SA govt another big deposit for rehabilitation which will wipe out the cash they have end of June from memory. Shareholders are finally looking at the books and the reserves statement the other day was the latest nail in the coffin - shows that aust uses too much energy pumping up small volume oil to be profitable in the long term.
BAS Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
