Ann: GGE Amended Notice of Meeting, page-3

Guys,

Just reading the amended demerger docs, still a little confusing but see if you can follow my thoughts here.

"
Summary
The Company’s assets that will be transferred into Louisiana Oil Ltd include all the existing group’s assets except for the Abita field.

The assets to be transferred are all convention oil and gas assets located in South Louisiana, USA. This includes the Company’s interests in the Desiree, West Klondike and Dugas & Leblanc Fields.

The producing assets have the ability to generate a net free cash flow estimated at A$1.5m by 30 June 2016 and $2.4m by 31 December 2016. A significant portion of these funds will then be free to be transferred to shareholders via an unfranked dividend or return of capital. "

I am seeing $2.4 million in next calendar year (significant portion maybe 75%) lets reduce that to $1.8 million divided by shares in this new entity of 75,000,000 = $0.024 or 2.4c per share being distributed. Therefore on these calcs I get a distribution of $2,400 per 100,000 shares held in new entity.

On these assumptions that appears to be around $200 per month income to shareholders per 100,000 shares of new entity.

New entity is Louisiana Oil Limited = LOL (bad karma I know)

Can anyone see errors in my calcs using same assumptions, of course using different assumptions will alter figures +/- ?