Ann: Quarterly Activities Report and Appendix 5B, page-2

No real surprises around the timing of flaring.

I do like the fact that they are showcasing the project at investor seminars and the like, which supports my previous suggestions that this thing will only take 1 SMSF to invest in it to send the SP through the roof. Approvals may well be a greater catalyst than the flaring itself.

I also like that finances to date - only drawn down $0.75m from the CBA overdraft, $13.5m in the bank but a planned spend of $8.3m this qtr (for the PCD), most of which will be able to be drawn down from the CBA overdraft. To me that means the first capital raise passed at the last AGM, which was to be no later than 3 months post AGM is unlikely.

Will be interested to understand the nature of any public responses to the EIR and SEO.