announcement out , page-9

So let's see if I have my maths right:

North San Ardo Revenue (Dec'07) = USD$1,500,000
North San Ardo Production (Dec'07) = 17,806 barrels
North San Ardo EBITDA (Dec'07) (@ US$55/bbl) = USD$979,330

Grossed up across December quarter and assuming same margin:

North San Ardo Revenue (DecQ'07) = USD$4,500,000
North San Ardo Production (DecQ'07) 53,418 barrels
North San Ardo EBITDA (DecQ'07) (@ US$55/bbl) = USD$2,937,990


From the October 2007 quarterly....

Cash flows related to operating activities

1.2 Payments for: $A
(a) exploration and evaluation (2,361,000)
(b) development (2,027,000)
(c) production (354,000)
(d) administration (621,000)
Total (5,363,000)


So EBITDA from only cash generating project = USD$2,937,990

Implied costs of TOTAL business (from Oct07 qtrly) = AUD$5,363,000 (~USD$4,558,000)

Current Group LOSS (BITDA) per quarter = USD$1,620,010

Yeah, this is a GREAT announcement.