As per their presentation dated 31st May they had US$18m in cash and US$17 in debt needing to refinanced in the 4th qtr 2017. They probably have additional debt too as according to Comsec they had debt of about Aus $41 million (US$32M) in 12/16. So possibly a net debt of approx. US$ 14m (32-18) or so. DYOR as these are rough calcs. It is a risky stock for sure. Basically its an option on the oil price. Looks like the selling is not done yet.
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As per their presentation dated 31st May they had US$18m in cash...
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