Q: Can you comment on earnings report. Thanks
5i Research Answer:
EPS of $0.028 beat estimates of ($0.014) and revenues were $85.2K. Its attributable net income was U$2.17 in the first quarter and cash increased to $268.5M. Its strong results were reflective of the completion of its Mubadala acquisition. Management reiterated its 2023 production guidance of 20,000 to 22,300 bbls/d as its operations are proceeding as expected. These were decent results and the market is so far pleased with these numbers. It trades at a decent valuation and has a good cash balance, but it does not generate positive free cash flow yet.