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.
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