In the last year the energy index has gone up 30%but ppp has gone down 20%.
Is this because.
a)The 2P reserves have increased despite the fact that 40% more has been removed than what they were predicting a year ago.
b) the oil price has rocketed to close on 140 /bbl
c)They are fundamentally unhedged.
d) NPAT will be approx half the current market cap
e) Their huge cash and cash equivalents (85 mill by my reckoning) make them vulnerable to robbery by takeover.
f) cost ofproduction @about $20/bbl is worrying.
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