Ann: 31 December 2018 Results Media Release, page-15

Regarding the E&C sale, I had a quick look at the accounts.

Extract from announcement on 20/07/2018 regarding sale of E&C:
"The sale, combined with proceeds from the completion of legacy E&C projects and unwind ofworking capital associated with these projects, is expected to generate cash proceeds for AJLucas in excess of $25 million over the remainder of the calendar year".

This tells me the proceeds will flow through Operating Cashflow.  But then my next question would be, how come operating cashflow (ex financing) was only A$9m when the drilling division performed so well? Payment terms can't explain this because, Current Trade Receivables have gone down slightly. Inventories have gone done significantly. In the full year report, as at 30/06/18, circa 4m was held for sale which related to the E&C sale, so I assume A$21m (25-4), was going to be achieved from the unwind of WC with the projects. But I just can't see this coming through in the accounts!