Well nothing in it really on the exploration front from what I read, must be saving it for the imminent reserves statement. AOE seem to like to make releases in blitzes.
Liked what I see on the operational front though. $54mm sales rev for the Q from electricity and gas, nearly half our net gas production being sold as electricity.
Whilst the net cash flow from this may only cover a quarter to a third of our E&D and overheads expenses, it's important to me that our management are demonstrating that they can quickly and effectively turn reserves into high value cashflow. This they will need to continue to do in Qld, and quickly commence once reserves are established elsewhere. This they are demonstrating in spades that they can, no waiting for the LNG train, although it is surely coming.
EL
AOE Price at posting:
$4.35 Sentiment: LT Buy Disclosure: Held
