Sandy
By way of clarification to your post, please note the US$10.53m reported expenditure for the June 2012 quarter was spent as follows (as per page 8 of the quarterly report):
- Galoc production costs US$5.74m (costs of operating the galoc oil field)
- Galoc development costs US$1.21m (cost of progressing the FEED studies and 3D seismic on Galoc in preparation for Phase II development planned for 2013)
- SC51 2D seismic US$1.45m (currently being acquired in Leyte)
- SC69 US$0.51m (progressing interpretation of 2011 3D seismic)
- Tanzania US$0.37m (airborne surveys currently being acquired)
- Admin costs US41.25m
We are progressing towards a busy 2013 which I trust you were able to gather from the information in the quarterly report.
Rgds
attention: m allen, page-3
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