The ‘Best Under a Billion’ list is compiled annually by Forbes to recognise those companies in Asia with annual revenue under US$1 billion, five-year returns on capital of at least 5%, sustained gains in sales and strong market momentum throughout the year.
The award coincided with the release of Beach’s latest quarterly report, which showed record gross revenue of A$24.9 million – a 75% increase on the $14.3 million reported for the same period last year.
Production, which totaled 249,000 barrels of oil, was the same as last year’s September quarter, but 17% down from the previous quarter.
Meanwhile, Tap Oil’s revenue jumped 80% from the last quarter to A$36.7 million. In its quarterly report, Tap attributed the revenue hike to high oil prices, up 27% on the three months ending June 2005.
During the last quarter, Tap produced 385,222 barrels of oil and sold 412,198 barrels from the Woollybutt field and Harriet Area in Western Australia.
