That is our point of view as well, i just been going over the figures with our accountant and he said the same as you iniitally,. but if you factor in the 2 month payment delay Plus the fact that caroline well got overhauled coincidentally also 2 months ago to give around 30% increase in production and also the fact that Gryphon well came on line 3 months ago ..and their is probably a delay of two months again for its revenue then the current production revenue is higher than reported ..because of the timings .
When i first read the report i was very disheartened but then factored in the delays and expectations and its all good.
It means they are spending money on something ( new wells i hope).
Means that with in the year we should get a huge increase in revenue if new wells are bought online.
Just clicked you as we also agree with you from the revenue point of view, going to be an awesome year if she brings new wells online
Ann: Quarterly Activity and Cashflow Report, page-9
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