Earnings increased from $14.2 million in 2000 to $31.9 million for this year on the back of high oil prices, which prevailed last year.
Total revenue was $93.9 million compared against $74.3 million last year. Income from crude oil increased by 18% and from natural gas by 32%. The higher natural gas income was mainly due to the commencement of coal seam gas deliveries into the BP Clean Fuels Project contract.
Total gas sales volume increased significantly over the year to 17.1 PJ representing a 28% increase over the 13.3 PJ produced last year. As for crude oil, total sales of 629,000 barrels was 17% below last year, due to a shutdown of a key well.
Operating profit for the September quarter 2001 was 23% ahead of the same period last year. Sales revenue was 10% above the same period last year and nine per cent ahead of budget.
