Manager Announcements Company Announcements Office Australian Stock Exchange Limited 10th Floor 20 Bond Street SYDNEY NSW 2000
Dear Sir/Madam
RE: FINANCIAL REPORT
The directors of Matrix Oil NL (“Company”) advise that negotiations are continuing with interested parties in an effort to secure a finance package to fund a remedial work programme and expansion of production on the Langsa Offshore Technical Assistance Contract area.
Dependent on the final re-development strategy adopted for the Langsa oil fields, preliminary expenditure estimates are in the range of US$18 million to US$20 million.
The Company is reliant on the continuing support of creditors and financiers to enable a financing package to be secured.
We advise that the financial report of the Company for the year ended 30 June 2002 will not be finalised pending the resolution of the funding negotiations.
Yours faithfully
BRIAN HOCKNEY Managing Director
MXO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
