Yep, good reassuring words. Also have a reread of the ABN report...

Yep, good reassuring words. Also have a reread of the ABN report from 1 August on the AMU website. ABN was forecasting $20m net cash and $14m net profit (their calcs are dodgy but still) based on $80.75 oil price $6.60 gas price and an exchange rate of 0.94. So right now we are spot on in terms of oil and gas, but currency is 30% better. I know costs are in US$, but surely having US$ assets compared to the Aussie is positive right now. If the Aussie appreciates, oil is likely to have gone up too.

Another way of looking at it is current EV is around US$105m or around US$12/barrel for proven reserves. This does not give any upside for exploration, of which we already know the company has had great success since the latest reserves report.

AMU is still generating great margins. I hope they buy back every share available at this price

My view is unless the world enters and stays in a long recession (in which case almost every company will struggle), AMU will recover strongly. Best not to look at the share price on a daily basis.

Just my opinion
Monty