AUSTRALIA

Cost control a focus for Drillsearch

DRILLSEARCH Energy says it produced 3 million barrels of oil equivalent for 2014-15, at the lower end of its expected guidance and down 11% from last year's record, however, it is cutting its cloth this year with a work program that could be its smallest in since 2011.

With $171.1 million of cash and undrawn bank facilities the company believes it is well placed to pursue a growth strategy under a new CEO following the recent departure of managing director Brad Lingo...

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