Q: Your thoughts please on the quarter?
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5i Research Answer:
EPS of 12c missed estimates of 15c; revenue of $444.3M beat estimates of $429M. Sales rose 13% and it swung to a profit versus a loss last year. Production was 67,697 boe/d vs 62,022. Production guidance was maintained. Capex will be $430M this year. The stock has been weak with the sector, but is very cheap and we would consider results OK. Cash flow per share was 44c. up 33%. Clearwater is performing well with a waterflood.