Ann: Quarterly Activity & Cashflow Report, page-3

Agreed.
Mar 18 qtr net cashflow from operating activities (Outflow $1.17m)
Jun 18 qtr net cashflow from operating activities (Outflow $0.984m)

Cash held at 30 Jun 18 $1.05m. Forecast net cash outflow for Sep 18 qtr $0.26m after sales of some tenements for $0.16m.

Forecast next quarter - net operating cashflow of $0.25m less $0.5m head office costs.

The net operating cashflow equates to about $7 per barrel of oil. Not sure this relates to the stated operating cost of $15 per barrel. There must be high amortisation costs.

I hold because I do not see the point in selling at this level. Ever hopeful that Xanadu may come good however likely to be diluted in the raising to fund our cost of drilling.

Atleast have got CE1 shares (ex TSV Montney) which may actually offset some losses.