'I am writing to answer your query about administration costs, as shown in the recent Quarterly Cashflow Statement. Several other people have contacted me about this. In fact, it is an ambiguity caused by the format of the report. Administration costs were $0.9 million in the last quarter. The figure of $2 million shown in the report is cashflow not expense and is a combined amount for admin cost + VAT paid + tax pre-paid. I trust the lower figure is more in line with your expectations.'
Any further questions please do not hesitate to ask.
Kind Regards Sue
Sue Cullen Office Manager Hawkley Oil & Gas Limited
HOG Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held