re: good result! npv of E&P bus 95c. carrying value ARW 30+c
arw share effectively free within days of first production of biofuels from which AMU will pocket $1m for 2H.
Net profit hit by $4m amortisation. Will be reduced 2H/ongoing simply by increasing IP and 2P reserves.
Hence the workover program plus bedding down of aquisitions.
drilling announcement wed (normally) with extensive program from april onwards.
Another significant factor has been the thru the floor US gas price. Likely bottomed plus AMU positively hedged 2 weeks from now 15% above curent market price for period of 2 years.
Thereby dealing with the 2 issues since last oct ie drilliing and gas price collapsing.
buyback likely back into play now as well.
FY est still $18.5+
re: good result! npv of E&P bus 95c. carrying value ARW 30+carw...
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