12c, page-29

rizza I have to disagree.

EVEN at the end of June 2015, I calculate that using OEL's current march quarterly figures of
us $101637000 less projected expenditure of us$ 4928600 then OEL should have a cash balance of
us $ 96708400 or aust $ 122797345.16 (using xe.com rates) OR cash balance of aust $.10.62 cps, BUT IF we get the 6.4 cps capital return befor the end of June 2015 then the cash backing as at the 30th June should be around 4.22 cents per share.



then there is SC55 and a free carried drill (a number of brokers have done npv valuations on this)


then there it OEL's african properties which:- see "OLD PARK LANE's" report on SWE which comes
up with a valuation of us $76700000 or around (using xe.com rates) aust $96000000 for SWE's 50%