low cash issue

I brought up in a previous post, is it possible that ERM may acquire some of our larger holdings in permits to raise more cash.

Our cash position is woeful to say the least and this quarter is touch and go to break even it seems. When the plant goes down for 2 weeks when they perforate and test the B sands then the plant is also idle and NO PRODUCTION of gas or condensate.

Consolidation or any CR form is out of the question without adding more shares or do the big C and hit the back pocket horribly.

Is is wise for ERM to stump up the big $Millions (10,15,20) we need for more drilling and exploration to keep alive. Fix the plant costs ?????. Resume full capacity to payoff ALCOA and only have condensate for revenue for maybe 18 mths still. Got a fat hungry experienced board now to feed a good worthwhile salary but still cash will be limited to further advance E and D in a hurry especially Wannamal, Black Arrow and Charger.

Do we fix, sit and wait for raised capital, borrow as per maybe ERM and pay interest as the want with the $2M already borrowed.

I really think that MAYBE the best alternative would be to off sell some of the higher %age permits and part extra of THE FARM where the plant sits. Can still hold majority %age but raise a fair bit to carry on business as we want.

ERM want to go forward with a demerger and strengthen their portfolios more. If they believe The Perth Basin is the spot for this to happen especially that they have invested so much into it and hold 10% of shares then WHY cant they take a bigger stake of these assets and leave us DEBT FREE.

Wasn't THE FARM property bought for $2M alone and the plant is what our share after the ALCOA $25M being paid back. ( Maybe its not worth 2c at the moment broken down) LOL.

Especially left WHARF out because of its uncertainty to or IF being later still in the JV.

Worth discussing and just a thought.