Well with the Dec qtr now closed and due to be released at the...

Well with the Dec qtr now closed and due to be released at the end of the month, I thought I would take a stab at how we may fare. There are still a few unknown quantities due to Oyong Gas revenue being uncertain as well ongoing development affecting Maari production rates.

I expect it should be a very good report though.

Last qurter saw revenue of $12.2m. I would assume we could see around $19-$20m for the latest Dec qtr. With $22-$23m possible the following qtr depending on POO & AUD$.

Development/Production costs should be around $9m for the Dec qtr, but reduce substantially the following.

This would leave cash of $28m (debt $22m) at Dec qtr and perhaps see positive cash flow of $15-$16m being generated the following qtr.

Looking forward to a reserve upgrade announcement in the coming weeks as well to instigate a positive rerating. Production flow rates from Manaia are due in January, which will allow reserve calculation to be completed.

Oh, and the current market cap is $160m.

Get in the CUE!

As always do your own research.

P.S Shrewd Crude, your 1/3 will be worth the 2/3 you are selling soon enough : -)