Something to be remembered is that with oil prices this high AMU...

Something to be remembered is that with oil prices this high AMU actually has hedges in place with current cap of US$90 (albeit for around 20% of their production) but from June cap is around US$85 for 30,000 barrels per month - which without looking into it I'd guess at around half their production.

This will limit their exposure to cashflow upside if oil prices stay where they are or above.

Having said that, their exploration success (or hopefully not the F word) will play a substantially greater role in price movements over the coming 12 months.

MJS