Ann: Perth Basin Exploration and Drilling Update, page-72

Yes, I agree the $700k is for Xanadu and the paltry amount makes me think its enough to do a workover of Xanadu-01.

Management have not ordered a drilling rig and the lead time from order to commencement appears to be 3 months minimum, so therefore no drilling this year. Which of course will mean the share price will deteriorate until the announcement of the ordering of a drilling rig. Coupled with the lack of action on 386 which management appear to have slated for H2 of this financial year (I read late June) I can see the price drift back towards .002 a wonderful present for Christmas.