Last Quarter they spent $2m with $15.9m in the bank at the end....

Last Quarter they spent $2m with $15.9m in the bank at the end. That was after spending 7ook on leases, though short term liabilities were $3.5m. This Quarter production will be down as will be the price received, however they'll probably have less production expenses.

If they spend $3m in this current Q, they'll still have $13m, enough to last all 2016, surely by then they'll have acquired some good assets. I'm not worried about the cash, just hope the POO stays low till they make some acquisitions. The sector is starting to really hurt now, hedging mostly run out, defaults on the increase. The price gap between what buyers are willing to pay compared to seller expectations has to be closing.