re: Ann: Appendix 5B for quarter ended 31 Dec...
Cash on hand is now a worry. They raised capital of $4.7m to cover the costs of the drilling of the horizontal well at Lidsey and the workover of the Brockham field, costs were estimated to be $3.5m and $1m respectively. The quarterly now states that they have $4.4m in the bank and even with the cashflow from production from the UK assets they are still burning cash so that $4.4m will be less in three months time.
KEY Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held