Jake, maybe I'm cynical but it could have been a real profit...

Jake, maybe I'm cynical but it could have been a real profit from operations if they had not written off so much ($5.5m) to impairment costs. I think that they just cleaned out the balance sheet for AGL.
2) I have just had a read of last year's Annual Report.
Quote from page 15 - "Mosaic Oil's accelerated drilling program is expected to continue beyond the current year with the expectation of drilling at least 20 wells during the next three years".
From the same report the most recent spud date was 12.07.09 for Taylor 20.
There has not been a well drilled since.
This is an exploration company! No wonder the share price dropped to 7.7c when there is no exploration activity!
Plenty of great new permits at S/holders expense but no exploration drilling!
I'm as angry as hell with this mob for selling us out and I'll be at the EGM in October to see the whites of their eyes.