outstanding 41 million in cash, page-6

That was a nice read!

I was pleased to read that production from NSE will not in fact be capped at 15,000 bopd gross:

"Carnarvon’s fully funded appraisal programme will endeavour to build this 2P reserve base
by upgrading its significant 3P reserves and contingent resources, with a view to continuing
to grow production above 15,000 bopd from NSE and other areas of appraisal."

For me, it's not really about flow rates anymore, it's about reserves and exploration drilling. The report clearly indicates that the NSE focus of the last 6+ months is coming to a (very successful) conclusion. They have now secured a long-term source of cash (money in the bank) to ensure funding of future programmes.

To put it another way, the fun stuff is about to begin again! The bigger risk/reward drilling will recommence, and IMO it's simply a matter of time before they find a new NSE field to develop!