Ann: Half Year Results and Update, page-8

"Empire expects sales under Tranche 2 to start by September. This will see the Company’s operating cashflow increase by more than $1 million per month. (2014 Half Yearly p3)"

I would more likely agree with Surandy. Date of first cashflow would depend on trading terms.

But work this one out. Red Gully cash surplus by Dec 31 is to be $5.5m (Feb 2015 Presentation p18). If Tranche 2 commences on 1st Sept, then this is 4 full months of production or $1.375M per month. What is current production - maxed out at 250Tj in December (Ref Dec quarterly p2). If you worked on those figures :

Tranche 2 Gas price would be $1.375m/250tj or $5,500/tj plus inflation (inflation will be worth just about zilch).

I would assume that we are breaking even at present, but if we aren't, gas price should be even more (haha).