27th february daytrading - morning, page-102

Hi TH, this post from Kellbys on the MMR thread, which I read over the weekend.

Had $8.4 million left at 31st December.....

"$2.1 million spent on drilling Bonaparte basin WA during the quarter.

$1.8million repaid to BPH for final loan repayment .

Not sure how much the 3D seismics will cost at this stage ( was guessing at between 5 to 7million), guess it depends on how big an area they want to cover. Full PEP11 area is over 8000km2. They already have 4 definite drill targets from the previously done 2d seismics, so perhaps they will want to target specific areas with the 3D?

Cash burn should be minimal this quarter, until the Bonaparte exploration cranks up again in April/May 2102 dry season! "