1P reserves increased 19% last year. We do not know what 2P reserves increased as yet. That information has not been published. As for cash flow, at the risk of repeating myself into a spin, the last quarter saw $10mUS of free cash flow (refer ABN Amro report). The fact that the company chooses to reinvest that into a highly prospective exploration programme does not and cannot discount from the fact that they made $10mUS from current operations. Annualised, that is 22US cents per share.
Anyway, I think I will go to lunch, have a couple of bottles of red and pass out. It will ease the pain of this market.
1P reserves increased 19% last year. We do not know what 2P...
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