nhc half year, page-3

New Hope switches focus to oil and gas
The Australian, Page 20 (Wed 19 Mar 2013) by Matt Chambers

Coalminer New Hope will turn its focus to oil and gas as the tough times facing the coal sector carried on with no signs of abating. "The margins on the oil business are a lot better than they are on the coal business at the moment, so over time we hope to build this business into something that benefits shareholder returns through increased earnings," managing director Rob Neale said yesterday. Mr Neale said growth would involve both through organic expansion and acquisitions and would focus on conventional onshore oil and gas, as opposed to shale or coal seam gas.