Abuman,
It's a tough call, as we have no historical data, however given that all producing fields appear to have low OPEX, and fairly favourable fiscal terms, I'd have thought a NPAT margin would be above 25% of this, and therefore roughly A$120mm pa at current oil price.
I am more interested in the operational cash flow aspect, which I am expecting to be perhaps A$250mm plus, given that there will be no PRRT or aussie tax on Cliffhead for quite a while and cost oil will be at max for Chinq, while CAPEX is being recovered.
I like what I see, even if it is only back of envelope, but already overweight & not buying more ROC, with PSA and HDR in the bargain basement atm.
How's that tie in with your thoughts?
Entropylord
anyone, page-2
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