The bits for me: - SM58 E1 cost less than 60k net to recomplete and is returning around 300k net per quarter. - Trade and other payables reduced by $7.7m to $3.4m - Received an oil prepayment of $3.5m, indicating a great relationship with the counterparty. - Rough maths says that they'll clear the trade payables and reduce Crimson debt to circa $15m at EOFY, while retaining a cash balance of circa $4m. - June/July drill definitely seems feasible at this time, given the slight lag in receipts (seem to get a months worth just after end of month) and big assumption of 60 day supplier terms. - Drilling applications remain unapproved, but company still expecting them. - Finance discussions must still be happening. - Focus appears to be on getting other leases drill/sale ready.
BYE Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held