RH Petrogas is a company with negative equity despite reporting a profit of $3.36 million in 1QFY2021. The reason for turning in a profit was partly due to higher crude oil prices and partly higher crude oil production. Interestingly, its average selling price in the first quarter was US$59 ($78.99) per barrel. North Sea Brent is currently priced at around US$73 per barrel, and West Texas Intermediate at around US$71 per barrel.

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