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Arc’s EBITDAW (earnings before interest, tax, depreciation, amortisation and write-offs) is also up 82% to $74.4 million, while sales have rocketed 82% to $105.3 million.
Other financial highlights include an operating cash flow prior to capital expenditure up 80% to $69.9 million and cash reserves at $36 million with no debt.
Meanwhile, the year’s operational highlights include oil production up 28% and gas sales up 41%.
Arc says up to 31 wells will be drilled during the 2005/06 financial year, as well as the full development of the Jingemia oil field and installation of artificial lift at Hovea.
Managing director, Eric Streitberg, says the Xyris, Tarantula and associated gas developments will continue to boost production and revenue.
“The acquisition of the Dongara Processing Facility also cements our hold on the infrastructure in the area and sets us up for another year of aggressive value adding growth,” Streitberg says.
In addition, the Voyager acquisition means Arc’s exploration drilling program will now step up to include offshore parts of the Perth Basin, while also expanding onshore work, the company says.
