Oil prices surge after OPEC hashes out a deal to cut production...

Oil prices surge after OPEC hashes out a deal to cut production

Oil Price now over $50 US NOW PROFIT PROFIT

G forward Strategy 2017
The Cliff Head Oil Field has provided a new business strategy for the company and shareholders. For
the 9 months to 30 September 2016, the field has produced 329,261 barrels of oil representing $12.4
million in revenue
in a very low oil price environment
. Within Cliff Head there are further
opportunities to
investigate Enhanced Oil Recovery, in field drilling, and appraisal programs to bolster production and
extend the field life. There are also further acquisition opportunities within the greater Perth Basin.
It is relevant that the recent
commercial environment is certainly conducive in considering significant
reductions in operating and maintenance expenditure. The Joint Venture partners at Cliff Head have
commenced the budget review process
across all divisions of the operations targeting
$35 per bbl cost
base case. In achieving this target, the company can have a level of comfort it has generated its own
protection against future oil price falls and importantly have pure exposure to the oil price rising. As the
company is debt free, this
provides significant leverage on the upside