BPT 1.19% $1.28 beach energy limited

Beach Petroleum - A "santos" on the making?

  1. 9,081 Posts.
    Beach Petroleum released an excellent report to day - the highlights being:

    First dividend payment announced in 16 yrs - small but only the start of better things to come

    49% lift in annual revenues to $15.3 million

    Cashflow is up eightfold to $4.2 million

    Net asset growth has almost doubled to $47.6 mill.

    NPAT is up to $2.86 million

    The result does not include the expected revenue boost from BPT's increased ownership of Bodalla - expect increased revenues from this source to be reflected in 2002/2003

    Also recent discoveries - Sellicks, Aldinga & Acrasia in the Cooper basin have yet to be brought on stream.

    Beach's exploration programme is also looking pretty good.

    To quote the "bottom line" from the report:

    "BEACH HAS EMERGED FROM A YEAR OF GROWTH AS AN EFFICIENT, COST-EFFECTIVE OPERATOR"

    Cheers, X
 
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