Half yearly, page-2

Auto,
Best to leave it till the Annual Report is lodged. Perhaps even some investigation of 2Half versus the first half (has a difference been made). In any event, I don't think the average investor is reading the financials given statements being made here.

Orion, you know who reads both HC and provides the input for those statements? You too could have a meaningful discourse if you tried.

This discussion of operating profit has gone on here forever.
Operating cash cost is simply LOE + G&T costs plus all royalties & taxes other than income. In the US the specificity of disclosure of such costs are much more stringent.

I prefer to work on the Net production ... so I always only ever take a company's NRI (Net Revenue Interest) in to account so I don't have to be concerned with royalties. A company's reserves are based on their NRI.

Until I see it explicitly in the financials as to what the:
(1) LOE is both in actual dollars and in $/BOE
(2) Gathering and Transportation is in $/BOE
(3) the volume of gas flared because there is no gathering infrastructure
the operating cash costs will always remain obfuscated.

Then from that number we can start to work towards the real Net Income number.