Given I have now picked up 1.2 m shares at 13.5 , I thought I...

Given I have now picked up 1.2 m shares at 13.5 , I thought I would have a closer look at likely revenue this quarter. Two interesting points is that Maari inventories as of end of March where 70k and even though I expect production to be off 50k barrels this month from China, I think sales may only be down 20-40k assuming a Maari lift of 130-140k . Maari
lift could be as high as 160k. This means that I still get uSD sales of approx 36m -37m USD and AUD of about 53 -55m. I assume 70% is operational cash flow to allow for tax I get 75 -76m AUD by end of June. Based on this and the fact no major capex
planned next half - dividend of 2.5 c is highlight likely and they could push 3c as they would still result in AUD net cash of 61 m by the time it is paid . 75 end of June plus 11.5 AUD cash flow in July AUG and Sept minus 48 m AUD . The falling AUD and the lack of USD capex means they can convert a good chunk back to AUD for a bigger 3 c distribution

the chart below is interesting as it shows the Brent AUD price received this quarter want be much lower than last and validates my view the fall from 16.5 to 13.5 isn’t justified , especially given the fact the above cash will be sitting in the bank account in a week or two