Ann: Half Yearly Financial Report, page-3

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228 Posts.

19/03/18

09:13

Post #: 31846882
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Originally posted by gottalovevmt ↑

So, after a more thorough analysis of the Half yearly Report, I am now very seriously considering buying more stock on Monday.

You can see that along with our detailed Environmental Impact Assessment, we have submitted our exploration plan for 2018, which is now only awaiting the approval from the Minerals and Petroleum Authority of Mongolia.

You can also see that as at December 31st 2017, we only had $89,688 in the bank.

Given the cost of the planned 2018 exploration and the general day to day running of the Company, to continue as a going concern was naturally questioned by Matthew Cutt at BDO Audit (WA) Pty Ltd.
The Company responded that not only is the current situation ok, but that on assessed future cash flow, Wolf Petroleum will be fine right through to March 2019!
How is this possible?

"The directors are in advanced negotiations with a potential lender..."

Now I don't know about the rest of you, but I would love to have been a fly on the wall for the rest of that meeting. On top of what is reported above, whatever else was said was obviously collectively sufficient, for Matthew to sign off on it.

Time for the Wolf to finally howl?
IMO yes.

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Definately interesting, but im losing hope pretty fast.

What concerns me is the front page. "A Mongolian oil exploration company"
We're listed on the ASX, so should it not read "An Australian oil exploration company focused on / with interests in, Mongolia" ?
I hope im wrong, but i think its shows just where this is headed

WOF Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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