There is no surprises in the financials here - SHE have effectively converted current assets (ie cash) into non-current assets (E&P and Production assets), which sets them up for increased cash generation in the current & future period.
The little nugget that I was very very happy to read was this update on Myall Creek:
"Myall Creek-2 (Surat Basin, QLD) Despite delays due to Armour’s being placed into administration and subsequent restructure (Armour has now been acquired by ADZ a privately held company) the agreed intention of the joint venture parties is to progress and complete the planned frac stimulation and realise production revenue and ultimately a return on the Myall Creek 2 investment during the course of 2024."
Nice
SHE Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
