ne production can increase to 2 to 3 times , page-2

Look bloody terrible,

1, Production for only 90 days = 9,330 barrel per day, declining?.

2, Puffin 8 a complete right off.

3, Puffin 7 might be improved by 2 or 3 times but as yet they have not announced how!!!

4, They need further funding to do any work on Puffin 7.

5, In dispute over cost of Puffin 10.

6, Project financing arrangement in extreme difficulties due to low oil production hence need to be re-neg and further funding required, rights issue?

7, Total company borrowing increased by AUD 11 million to AUD 187.6 million.

8, At current rate of production this = around two years of current free cash flow assuming no increase in production or interest payments.

Looks as if the shares should go lower.

NB No value assigned to exploration or undeveloped oil fields so maybe only a bit lower on SP so long as they can remain cash flow positive. What a position to be in!!