Banter and General Comments .. BRK, page-2358

Hi mate.

I think you to are probably correct with those date timelines for production start , but it probably won't be a full quarter of production which is what was needed for the exercise. Personally I can see if there are no drilling, completion issues etc, Rangers cleaning up in April/May and flowback/ production in May/ June. Flames funding would predominately come from option exercise and we probably will see a trickle of conversions until June, with the bulk exercised at the end of that month.

However, with the surge in cashflow from Jewell occurring now, as well as what may be a good production plateau for another couple+ of months, I suspect BRK will be in a position to commence drilling the Flames not long after Rangers. The drilling component will cost ~AUD$5 million for which they will have enough cash for, and then commence the completion , frack etc not long after June for which the oppie conversions will more than cover.

With that sort of timeline, Flames could potentially mirror the Jewell in production commencement and we may be off to the races a bit earlier.

Cheers

Dan