$5.1m plus income from the UK assets to cover $4.7m workover of...

$5.1m plus income from the UK assets to cover $4.7m workover of the UK assets plus exploration/evaluation and administrative costs.

Allowing for the UK assets workover they only have about $0.4m cash in the bank for exploration/evaluation & administrative costs for the next 6 months, clearly that isn't enough on it's own.


Correction: $4.5m for the workover, still that leaves just $0.6m cash in the bank after allowing for the UK assets workover.

They still need to fund their share of drilling the Nyuni block so they need the UK assets workover to be successful.

I've changed my sentiment to hold at this point in time as I can't see any news in the short term that will lift the share price even without any capital raising.

The 2nd quarter cashflow report or the release of reserves for the Kiliwani North gas field is the next lot of news that has any chance of lifting the share price in my opinion.