Down another $5 million this quarter. At this rate they will run out of cash by the end of the Financial year, if not within the next 6 months. So much for closing down the shop to save cash.
What is our money being spent on?
Not drilling wells, not running seismic, not paying field staff (who have all been fired).
They're not even trying to sell any gas.
From the quarterly
"Little effort was spent on commercialisation activities"
This is even worse than I thought.
Ann: Quarterly Activities and Cashflow Report , page-6
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