Some finance numbers16 Oct 2014 15:06
The swaps: These agreements cover 93,782 barrels of oil at a swap price of $92.55, $90.04 and $96.11 during the year ending December 31, 2014
So anything lower than this is money back to us on a monthly basis, no need to worry about costs just yet.
Operating net back increased to US$57.84 for the three month period ended June 30, 2014, possibly a bit higher still now, costs, this is from the average oil price US$92.89 per bbl during the three-month period ended June 30, 2014
so that puts costs approx at $35/barrel if reading the quartiles are to believed.
Longer term we have lower swaps in 2016, still higher than the current $80 so we won't lose out still.
The company was sensible in taking swaps, it made a loss from them previously but now will be taking that money back. They need to get new wells online quickly to take advantage, and get the bopd up.