The baby elephant in the garden is we don't know what liability has been built up for Land Ocean's services in the quarter, given the report is on a cash rather than an accrued basis. Such is the nature of ASX's reporting requirements. A note explaining same would be helpful to put investors jitters at ease (or not).
All looking rosey in the short/medium term future, once the results of the waterflood start taking place we can expect BOPD to double by year end increase to 2,500 by 2017 end. Lowered BOPD this quarter was expected. Sitting with a $20m cash balance aswel, which I like and only net $300k spend in 3 months shows they have tight controls in place now.
"We cannot deny bullish sentiment in the market anymore. It is wiser to hear the call of the market and change positions accordingly. The bullish stop loss is finally confirmed and a BUY signal is generated. It may be now the right time to be part of this boost and bullish market sentiment by joining the growing bullish crowd"
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