What I like about the report is that without factoring in any additional exploration success,Earnings Per Share are estimated as 4.3 cents in 2008 FY, 9.3 cents in 2009FY, 11.4 cents in 2010FY and 15.8 cents in 2011 FY. And this is based on an oil price of around $100 a barrel.
Most of the 2008 FY earnings are coming in the June half, so a good half report in June and good second half of 2008, then eps over that period of 8-9 cents cannot be ignored by the market and the price will move to new highs.
Exploration success will just be a sweetener.
Cash is starting to flood in already so no debt, strong cash position and eps all adds up to one thing - RERATING!!!!
hartleys report say a buy, page-9
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