Hi Tastarga,Just some questions to the following you have...

Hi Tastarga,

Just some questions to the following you have posted

3. Most of the hedge disappears 30th June . Also by then cash in bank should be north of $2m net of debt.As usual they are writing dud holes off completely-unlike its peer group!

You have stated above that most of the hedge will dissapear on the 30th of june 05.

I have the following info:

Hedging

1 jan 05 - 30 june 05 35000 bbls/month @ A$ 36
1 jan 05 - 30 june 05 10 000 bbls/month @A $ 50

1 july 05 - 29 june 06 21000 bbls/month @US$27.05
1 july 05 - 29 june 07 8000 bbls/month @ US$26.36

This means the total hedge program is only down 6000 barrels, but the hedging is going forward at even lower prices........

the rest of what you posted seems to be allright as far as I can see.

jojo