Drillsearch posts record FY profit

By Elizabeth Redman

Drillsearch Energy expects another year of strong activity in fiscal 2015 after reporting a sharp rise in full-year profit due to a spike in production and higher prices.

In the year to June 30, net profit attributable to members jumped 59 per cent to a record $71. 52 million, after the group tripled its full-year production.

Drillsearch confirmed its fiscal 2015 production guidance of 3. 0 to 3. 4 million barrels of oil equivalent (mmboe), after reporting output of 3. 4 mmboe in fiscal 2014.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Read more here: Business Spectator


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