OPERATIONS

Stuart reduces debt, bumps up finances

STUART Petroleum has improved its financial position by delivering forecast oil production and revenue for the March quarter, releasing oil hedges and paying off the cost of drilling the Bazzard-1 well in the Gippsland Basin.

Marija Stojkovic

During the quarter, Stuart produced 80,054 barrels of oil from wells in the Cooper-Eromanga Basin and delivered sales revenue of $6.3 million. The company realised $3.8 million from commodity price...

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