HIGHLIGHTS
- Production revenue, including hedge gains for quarter, of U$25.7 million, an increase of 8% on Dec 2014 quarter; 2014/15 financial YTD revenue US$79 million
- Production for quarter 324,478 bbls, an increase of 6% on Dec 2014 quarter; financial YTD production of 943,143 mmbo
- Maintenance of strong operating income levels, despite falling oil prices, resulting from continued lower operating expenditure, decreasing 23% from Dec 2014 quarter, and hedging gains
- Capital expenditure reduced by 76% from Dec 2014 quarter from US$38.2 million to US$8.9 million with completion of exploration and development drilling in China and PNG
- Maari growth projects program proceeding with MR6A development well completed and brought on production in the quarter with initial production rate of 7,800 bopd and MR7A development well drilling ahead in reservoir.
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