Hi BK Hopefully some cash soon. Not a big burn rate. $185k a qtr...

Hi BK

Hopefully some cash soon. Not a big burn rate. $185k a qtr forecast?

The Company entered into an agreement with Westmarket Oil & Gas Pty Ltd (“buyer” to acquire its 100% interest in tenement EP127. The total consideration payable on successful completion of the transaction is AUD$1,500,000, comprised of as follows: 1. Cash consideration of AUD$500,000 At completion the buyer pay the Company a cash consideration of AUD$500,000, less any deposit paid. The Company will be paid a non-refundable deposit of AUD$35,000. 2. Stock consideration of AUD$1,000,000 Issue to the Company the equivalent of AUD$1,000,000 of shares, at a deemed issue price equivalent to the IPO price on the London Stock Exchange (LSE). 3. Royalty Amount of 1% for a period of 5 years The Royalty Term shall be 1% of the net return from the sale of Petroleum produced, removed or disposed of from the tenements during the royalty term of 5 years.