Ann: Loan Note Update - Keybridge, page-21

would not be surprised to see the quarterly produce an inverse of last quarter with cash flows of positive ~$350k

Based on the following

Net production of ~135mmcf (40 vali - 95 Odin) - price $9500 mmcf vali and 15,000 mmcf Odin). ~40% of vali revenue being actual cash payment (similar to last quarter) - 100% for Odin. 79 days production vali - 77 Odin - assumes 2mmcfd vali - 5 mmcfd Odin.

expect quarterly revenue to be 1.45m (up from 0.46m last Q) less vali prepayment 126k has income of 1.329m less production of $543k ($4mmcf and compared to $293k last Q - same production cost per mmcf) less staff admin and interest costs of $90k $286k and $52k respectively - assumes 30% increase on prior Q gets me to net cash of positive $358k