Ann: Commence production from infill wells in Beibu Gulf, China, page-11

Hi all
I have been doing a deeper dive into HZN as I have now accumulated a decent position . Was reading last years AGM presentation and I noticed that the production expected from the 2 Infill wells was 1900 , whereas it actually come in at 2437. That is more 28% ahead of expectations just as the oil price is rallying. This has numerous pluses , the most obvious is increased cash flow , but also that the third infill well considered is now more certain. These three wells are likely to see the production average stay above 10000 for beibu, by which time the next development estimated a 4000 bopd will quick in.
the higher production levels also bode well for some reserve additions , especially if they continue to outperform for a few months.
with cash costs in the teens , even if one assumes 20,
2600 x 43 USD 111800 USD cash flow per day, or 144k AUD a day , and that is just from China . 53m AUD cash flow just from China
paints the picture or a very undervalued oiler - trading at half its value IMO without any material upside from Maari which may also occur