So, just to work through the maths for you and all, we have the following growth rates:
Actual increase in quarter ( Sep v Avg) - 15%
Price increase ( crude est of 80 v qtr average 71.6, applied to all production) - 12%
Exchange rate ( 75 v 73.5) - 2%
New production ( enabled with crypto gas generators plus) - 15%
Annualising that onto Sept quarter is USD 24.5m, round to $25m.
QED
I don't think that's too much of a stretch, given all the variables and lack of sizing on new production estimates. There are a couple of wells currently off line due to flaring etc. that will start production this quarter. The fact that they bought a truck ( while funny that it gets a mention in the quarterlies) does give an indication of their intent.
You might want to stop blaming management for the drop in crude prices in 2014/5 and recognise their not inconsiderable nous in keeping the company alive and now starting to deliver.
Good luck, you might find @1.4 a buying opportunity yet!
AXP Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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