"Gross Revenue from operations for the March quarter was a record AUD$7,039,952 (US$6,307,797) with net to AusTex after royalties and taxes of AUD$5,239,979 (US$4,695,021). Cash expended during the quarter for development was AUD$4,076,921 with an additional AUD$95,158 on exploration. Cash and short term investments on hand at the end of quarter were AUD$15,911,794"
So they had $16M. They have had about $7M+ in cash and options convert which takes then to $23M.
Drilling accelerated so they probably needed to to dip into the bank account for some of it (ie not funded from cash flow), but that still leaves about $10 unaccounted for.
RFE sold some acres at the end of large quarter. It was announced on 1/4/14 but made their March Quarterly financial report.
"Sale of undeveloped acreage: Successful closing of the sale of ~7,400 select undeveloped acres for a cash consideration ~US$11 million."
I would have thought AOK would have to announce it to market if they bought it ... or spent $10M n anything for that matter !!.
AOK Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
