I have been in and out this stock for years, they have always...

I have been in and out this stock for years, they have always had a good solid base business. It looks like they finally got the growth strategy right with the acquisition of Lattice. They have had a few major hiccup's along the way especially with PEL 218 and ATP 944 (Shale gas) they blew loads of cash on this.

They should have close to 1.2 billion revenues for this year, and free cashflow of about $350 million and next year should be better with 1.6 billion in revenues and 600 million in free cashflow in FY19. We will get a better picture when the Q4 quarterly report is released. Brent crude should hold up around the $75 dollar level for the next year with the saudi armaco listing in FY19.

I think the current price is pretty well supported by the business case for beach and the free cash they will generate over the next couple of years. I would see the share price at about $2.50 latter this year once we have a clearer picture around what sort of cash they will be generating. The $2.50 share price is based on $600 million free cashflow in FY19 and a market cap of about $6 billion. This all depends if Mr Market is kind to us, some times he can surprise on the upside, just have to wait and see if the oil stars align this year!!!