need for cash?, page-3

As pointed out, they got $900K in after 31/12/03.

The auditors are basically saying if your business model does not work, may not be a viable business.

Normally this is not a very good 'tag' to get, however, if the directors having been furiously buying up the shares since balance date, they must think things are going OK. Certainly the high oil price is very very beneficial to them. The lack of cashflow in the first 6 months recognised the fact that the Oseil project was offline for several months due to commissioning of Phase 1. I would expect second 6 mth revenues to be greater.

What will really be interesting is the next qrtly report for 31 mar qtr, to get a sign on how they are doing.