AMU's March quarterly announced today and delivered good news...

AMU's March quarterly announced today and delivered good news for shareholders. Quarterly gross revenue is up 50% on previous quarters, on the back of much higher production of oil (36%) and gas (84%), and higher oil and gas prices.

This increase in sales should translate into a proportionately higher gain to profits as those higher prices fall straight to the bottom line.

Production by my estimates is now running at nearly 900 boe per day - a rate equivalent to an annual production of close to 320,000 boe.

The company is certainly building a firm base for future growth. And plenty to look forward to to drive that growth harder - for example, success in at least one of the remaining two deep gas wells, more success from the many planned wells to be drilled on Red Creek (or Raccoon Bend) before end June, diping into their well-stocked war chest for more acquisitions like Morgans Bluff or Raccoon Bend, or a kick off on construction on the Adelaide biodiesel plant.

All in all, AMU certainly has a lot going for it.