Excerpt from yahoo finance last friday.
Royal Bank of Canada capital markets analyst Gordon Ramsay said downgrade in the Western Flank assets would likely lead to a write-down in their value for Beach's full-year earnings.
However gas production, which will not immediately be affected by the Western Flank findings, was a substantial part of Beach, according to Mr Ramsay.
Mr Ramsay said he expected Beach would earn more revenue from gas next financial year. He said the company had a strong balance sheet and remained one of RBC's preferred stocks.
Im holding and believe friday was an overreaction. J.m.h.o. We may see some early selling tomorrow but im hoping that may firm up later in the day.
Best of luck folks.
Ann: Business Update Presentation, page-139
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