Yes a little worrying that the cash stockpile decreased by $15...

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nordesmic

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1945

28/07/14

09:39

Post #: 13723033
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Originally posted by speculator101 ↑

I am interested to hear others thoughts on the upgrade and quarterly.

The upgrade in reserves looks good but my continued complaint is a simple one, they can increase it all they like, but they CANNOT increase production like DLS/BPT have in the western flank and through wet gas.

As for the production, a good uptick, but this was already factored in, I think many realise that SXY can at best, continue this production rate for another quarter or two unless new and significant fields can be brought on line, hence the big change in their drilling program, from developing old fields, to now focusing on actual exploration to find new fields.

Then of course, you have the ever shrinking cash pile, which was bolstered last time by the sale of the Cruiser field..... BPT and DLS have their cash piles increasing.

Sorry for the negativity, but I know I expect more from SXY management team.

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Yes a little worrying that the cash stockpile decreased by $15 Million despite the extra ~$10 million in revenue. Development expense was presumably elevated due to Spitfire work.

Still sitting on that Surat Basin gas. I guess they are waiting for the LNG facilities to get a bit more desperate.

SXY Price at posting: 68.5¢ Sentiment: Buy Disclosure: Held
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Yes a little worrying that the cash stockpile decreased by $15...

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