from quarterly, page-10

BOT, the hedge is in relation to their expected expenditure on exploration for 2008/2009.

In terms of the size of the KN field I'll be interested to see the size of the licence declaration area. That could give some indication to the possible extent of this find.

At the end of the September 2007 quarter they held $14.7m in cash, at the end of the September 2008 quarter they held $7.5m, a cash burn of $7.2m over the 12 months.