Interesting to check the Annual Report.
At 30 June interest bearing debt around $200 million. P10 drilling + undersea equipment + FPSO lease has proceeded at a sunk cost of around I guess $30 million.
In Note 26 oil swaps deliverable under 1 year were 1.2 million barrels. The unrealised loss on a strike of around $US72 was $4.8 million or $4 which equates to the then price of $US76. The oil price is around $US96 per barrel resulting in a charge of about $30 million.
Also in latest technical presentation it noted that P8 produced water from the first day. If P8 is compromised this also could isolate some oil. The longer term position of SW is very unclear.
AED could become an excellent trading stock as I imagime the news flow is now the market driver since fundamentals are in flux.
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