Sweet sweet cashflows!
Other than the increase in Opex costs, and the issues with WZ12-8E there is not much in this report not to like. Cash is king and HZN have a bit of it...
Beibu currently producing (post repairs) at 15,200bopd gross, whereas in this quarter was only flowing at 10,227bopd - so we are looking at a potential 46% uplift in Beibu production, which equates to a roughly 30% increase in total HZN production for forward looking quarters...
Currently trading at;
- 31% net cash backing
- 1.06x annualised Operating CF
- 2.2x annualised FCF
Ann: Quarterly Activities Report, page-3
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