Ann: Quarterly Report for Period Ended 31 Decembe, page-3

re: Ann: Quarterly Report for Period Ended 31... Johnny,

I'd have liked to see a little more revenue from Oyong gas, and a little less production disruption at Maari, but hey yes

1) Not only cash position held but A$3.4 mm of debt repaid AND cash held only down 700k. Therefore NET cash position improved $2.7mm.

2) No net debt.

3) Caterina. Farmout "finalised" this quarter, implies quite advanced. Also implies it's been accepted as a worthy drill. Will be interested to see whether Caterina farmout is finalised before Artemis is, and which is drilled first.

All reasonably well to me overall by the looks of the report.

EL