monark, we'll see the quarterly update when it comes but just...

monark, we'll see the quarterly update when it comes but just for the record I will lay my logic down here beforehand:

Here's why I think its a miss this quarter:

Refer to the announcement you have taken that picture from, the next page bullet points:
Q2 – 2023 projections based on average commodity price of US$80.00 bbl,
average WCS differential (US$15.30/bbl),
and an average AECO natural gas price of C$2.50/mcf.

Compare to actual prices this June qtr:
US$ bbl prices were at $80 for about a week, then settling for much of the quarter at $5-10 lower than that. I estimate an average of $7 net worse
WCS differential started the quarter around -$15, drifting to -$11 today. I guess an average of $3 net better than forecast.
AECO gas price is about right.

So net of WCS I estimate a net US$4 ($7-3) lower figure than their forecast assumptions.

Their Q2 projections were $9.6m of OCF and $6.6m of FCF. The announcement they put out recently said both operating cash flow and free cash flow are going to be circa $7.5m (i.e. $0 capex, which is plausible as #8 and #9 were paid for & completed in Q1)

I calculate a miss on OCF estimated to be $2.1m. ($9.6m less $7.5m)

We know their production rate is on target with forecasts, so it must be the price that varied it. Let's test it to see if it's the makes up the variance.

Production for the quarter is going to be somewhere around 382,000 boe per their forecast.382,000 x US$4 = US$1.5m, or A$2.2m at 68c. Pretty close to the A$2.1m miss I estimate above.

..P.S. If they did actually beat their forecast, wouldn't it have been front and center in their update? Instead news of the "beat" comes in the answer box of the Q+A section of the zoom webinar (??????)

Either way, it's all immaterial, I'm just showing the logic behind my argument raised before.