looking like the fall is over., page-42

Dmangus
I have only nibbled 100k shares and moved my buy order down to 15.5 for 500k units. I bought for the overall asset including offshore WA gas play. My concern is the running costs of the business and whether cash can be maintained as the attempt is made to ramp up production. I appreciate reserves have increased over the years but these haven't translated to an increase in cash. I am trying to get a better grip on assessing things- read the latest preso but that is pretty strategic. I probably have to go back a big to find margins, exploration and development costs etc etc to get the right picture. I don't want to simply assume because it traded at 80 it's a bargain at 16.5 although one would think it should be undervalued at these priced and I think it is.
Would love to hear ELs views as he tends to be very objective of companies he holds