FINANCIAL
Revenue up 19% to $214.3 million (1H 2012: $ 179.4 million)
Pre-tax operating cash flow up 87% to $182.7 million (1H 2012: $97.7 million)
Post-tax operating cash flow rose 149% to $100.4 million (1H 2012: $40.4 million)
Pre-tax profit of $15.9 million (1H 2012: $15.9 million), rising to $124.6 million (1H 2012: $41.8 million) when adjusted for expensed exploration costs
Unit operating costs fell 22% to $14.37 per boe (1H 2012: $18.39 per boe)
Net debt as at 30 June of $258.2 million (FY 2012: $ 194.6 million) with cash and funds of $166.8 million (FY 2012: $208.8 million)
OPERATIONAL
Average daily production up 39% to 14,900 boepd (1H 2012: 10,700 boepd)
Development drilling on Bualuang field ahead of expectations; production averaged 12,100 bopd (1H 2012: 6,900 bopd)
Kerendan development drilling complete, wells delivered a combined 40 MMscfd on test
Strategic partner brought in to the Bangkanai PSC in return for a cash payment, carry on development expenditure and promote on exploration wells
Kutei exploration drilling yielded South Kecapi oil and gas discovery and North Kendang gas discovery ; North Kendang re-drill to be completed before end 1Q 2014
Surin oil discovery in G4/50, Gulf of Thailand, de-risking neighbouring leads and prospects
OUTLOOK
Full year 2013 average daily production forecast maintained at 12,500 - 15,500 boepd
Further development drilling in Greater Bualuang during 2H 2013
Exploration drilling in G4/50 and Bangkanai PSC during 3Q/4Q 2013
Completed farm down of West Bangkanai PSC, Greater Kerendan to strategic partner Saka Energi
Awarded PSC in Malaysia, negotiating terms ahead of expected signature in 4Q 2013
