Total cashburn for the quarter was $9.5m
Capex was $7.9m
So operational cashburn was $1.6m.
There was no free cashflow generated, just $1.6m lost - even with low capex.
Is it reasonable to conclude that at an oil price of US$40/bbl SXY is unable to generate cash, or am I missing something? How does it get to $75m of fcf?
Why is SXY failing to sell all its production? Q4-FY20: Production 711kboe, sales 661kboe. Q1-FY21: production 803kboe, sales 724kboe. What happens with this unsold production? Is the company stockpiling in the hope of higher future prices?
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Ann: September 2020 Quarterly Report, page-15
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