Cash is King - and AMU certainly generates a fair amount of it!I...

Cash is King - and AMU certainly generates a fair amount of it!

I agree re the hedging losses. I think most resource based companies find it annoying - recognising a "loss" when in fact all you have done it cap your future income. The only time it would eventuate into a dollar loss was if a company was forced to pay market rates for the commodity and sell at a lower hedged rate.

Anyway, the 1P & 2P reserves are the other item I want to see. Having said that, it is easy to understand the complexity in assessing this due to particularly the rapid rate at which they are making new discoveries - and the fact that they can bring them online cheaply much faster than they can work out what the reserve base is!

MJS