Ann: Quarterly Reports - 30 June 2016-OXX.AX, page-4

I think you'll be surprised. OXX don't own Ophir, they are being paid a fee to operate so they make money either way. Albers wouldn't have signed up otherwise although I think there is a component related to the overall revenue (ie POO). Not sure what to think about Cornea but Ascalon will become very valuable in two years time, Bayu Undan production starts dropping and Wickham Point will need back fill. Albers has been converting ctg by paying 10c, he wouldn't be doing iy if he didn't think he was going to turn a profit.