Half yearly report is very encouraging.
Based on average 1080 bopd for the period, profit was 0.8 cents per share.
Current net to carnarvon, is 3,800 bopd which would translate to roughly 3 cents per share for the current half year or 6 cents eps for the full year.
This would probably understate the actual profit as costs decrease with the increasing production and higher price of oil.
Positive news on reserves and we could expect a re-rating very soon.
half year accounts report to asx , page-11
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