strong oil shows in horizontal production well, page-11

Irynka,

That is not profit as in NPAT, rather it is cash margin as in EBITDAX you are talking about.

As SAE has no debt, the I is "no worries"
As SAE is NOT yet profitable, and has past losses the T is of little concern, YET.

It is the DAX that KILLS in this industry, just look at TAP, ARQ, ROC, PSA and heaps of others.

SAE is looking promising as a relatively HIGH cost producer, but although I hold, the jury imho is still out on the economics. At 130/bbl I'd say likely to be good, at 85/bbl, at bit ratsh*te.

EL