Agree with that CA, the recovery curve (or the worm) for now has tracked upwards for their realised Oil price as well as LNG price (USD/mmbtu). I've listed these below & noticed that the average ratio of their LNG vs POO price is apprx 0.143 from 2014 till Sept 17 (ie USD 9.27/mmbtu vs USD 64.48/bbl).
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2013: oil USD 116.43/bbl, LNG: USD 15.64/mmbtu (LNG data only for DLNG)
2014: USD 103.43/bbl, LNG: USD 14.81/mmbtu (PNGLNG comes onstream)
2015: USD 53.83/bbl, LNG: USD 8.94/mmbtu
2016: USD 46.43/bbl, LNG: USD 6.03/mmbtu (GLNG comes onstream)
YTD2017: USD 54.26/bbl, LNG: USD 7.31/mmbtu
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In my view their Revenue for 2017 should just about pip 2014's AUD 4037 million from 63.7 mmboe sales.
For 9 months this year they've generated USD 2246 million. So, if their Dec qtrly revenue is similar or better then Sept qtrly sales of USD793m, then they should have gross revenue of USD3039mil or AUD 4052mil (at 75c exchange rate) assuming that there are no major shutdowns or price/exchange rate fluctuations for the rest of the year. Note that the exchange rate back in 2013 & 2014 was 96 & 90 cents respectively compared to the drop in the AUD over the last 3 years. So yes they should have a good result for this year.
Agree with that CA, the recovery curve (or the worm) for now has...
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