Ann: Quarterly Activities and Cashflow Report - December 2023, page-19

Good end to the year

This caps off 2 consecutive years with revenue generated exceeding AUD $ 50million. Not a bad result considering only the Wolf Pack well was drilled from production revenue purposes.

2024 should produce a similar revenue number, especially of the FMDP starts flowback and production as forecast late 3rd, early 4th quarter. There will be a significant increased in production, revenue and cashflow generated in 2025 ( prices also having a large influence)

A fairly significant portion of the $3.9 million prepayment will include ordering and prepayment of steel casing. The 4 wells will use ~ 60,000 feet ( 18 km) of casing, with ~30,000 feet for the lateral sections , and ~ 30,000 feet for the 4 vertical sections . This will be a huge operational undertaking for the small Black Mesa team, who will operate and manage an average spend of US$ 1 million for the ~40 weeks, give or take a few weeks.