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8.33%

0.7¢ fremont petroleum corporation limited

Insolvency ???, page-8

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Bellboy

78 Posts.

4

05/07/18

11:41

Post #: 34157055
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Originally posted by Eddie30 ↑

Bellboy

Have a look at their last quarterly report which shows income of $231,000.00 and expenses of $419,000.00(excluding exploration and research of $777,000.00) and explain to me how they are cash flow positive. The only way they still have money in the bank is through the issue of shares including those issued to Directors as payment for their fees and/or salaries.

No doubt they still have to pay for the lease of equipment to associated entities for their exploration activities which do not appear to have been carried out for some time because of the Elk season restrictions or more likely because they don't want to soil their designer shoes by stepping into the Elk patties which also appears to be the only real production output in their largest exploration tenements.

Perhaps they could research the possibility of collecting the Elk output and converting that into cash flow or perhaps gather the gas rising from this fresh output and market it along with all the other gas which they can't yet find a market.

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Hi Eddie30 today would a good to up date your view on FPL

FPL Price at posting: 1.0¢ Sentiment: Buy Disclosure: Held
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