Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-8

Hi @HellerEcon so is it fair to say that each well will cost circa $0.75 M USD (or $1.15M AUD) to construct?

If that's the case, looking at the quarterly we could probably squeeze 1 well in with available cashflow and assuming a similar spend to last quarter.

Based on the conservative end of projections in the quarterly, if the plant is operating at full capacity I get a rough profit of $3.1M USD per quarter. Am I missing anything in this calculation?



Looks like it will be a closely run thing with available cash prior to producing helium. If we were to raise what is the likely raise amount (my guesses below)?

• The minimum to keep the lights on while the first well starts producing prior to rolling into other wells with the profits from the first one - Say $2-3M AUD?
• Enough to fund all 4 wells and provide a suitable buffer whilst we get into production - Say $4-6M AUD?

Based on this and a likely discount for a raise your 10% dilution seems about right.

Cheers