Ann: Operations Update, page-38

Ungani FW is free carry?Thats good.However the oil adventure has run out of steam & obviously ES hasn't cracked the Canning-it looks like its craked him-oilwise.
As Cujo always bangs on we're really a gas company.
I gain some solace from a couple of large US companies partly turning their backs on offshore & concentrating on onshore shale production.
Bru is starting to run short of money bearing in mind the repayment due to Alcoa in 2017 & the $21m expenditure this quarter.
Also its deal with MCorp is effected if it doesn't raise output to I think 3000 & then 5000bll/day.
A cap raising will be needed & thats going to be very dilutive at these price levels.
Whitenoise is right,management hasn't been good.Poor management can be saved by exploration success but when that fails as badly as it has then something should happen.Problem is we've got no choice.
Any volunteers?A Cujo /Hoots double act or Yatchy/CEO.Or best of all Yatchy/Cujo.At least it'd be fun watching them run the company from some Thai bar near a thai marina.