CT, I am pleased to see the progress report. 105b our share and...

CT,
I am pleased to see the progress report. 105b our share and increasing. Bishop stand out, McCain soon to be close to Bishop while the third is a bit low on production for the time being. I personally think we will 175b per day to PYM once all three are producing including gas sales which are equal to 25b per day so far..

So if it's stays where it is today, we are producing around 165b per day including gas. 120b to PYM which means cash flow.

Let's assume oil price stays at $50 per b... our production cost stays at $10 per b. That means we will be making $4800 per day from the sales 40x120=4800). Convert it to Australian dollar that equals to A$6335. This will definitely take us to be cash flow positive generating 190k per month plus we are producing bits and pieces from other leases.

Plus we have another well coming on board soon and possible increase in production from couple of wells. And we still actively drilling and has 8.4m cash.

Give it another quarter and we will b happy or at least i think we will be happy.

Cheers