Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-4

Few things to note:

ST48 gone - no longer an operator good waste of a couple of hundred k last year to say we were an operator for a minute.

MBW - Remediation hopefully production will improve production.

OBS - Shut in - no good but delivered bugger all in production will try and remediate.

GC21 - seemingly producing with modest decline.

Lightning - seemingly producing with modest decline.

Sm71 - seemingly producing with modest decline.

ATO update - they are working hard ....

Big reductions to staffing to $303k from $634 previous Q
Reduction in corp admin to $280k from $400 previous Q
Production costs down to $1331 from $1892 (BOE down 12% costs down 30%) suggests lower OPEX costs going forward of $400k quarter.

So savings of close to $1M quarter (roughly half from Staff/Corp and half from OPEX) if these savings can be realised longer term which is essentially the revenue as provided on a NRI basis from GC21/MBW/OBS provided last quarter for reference.....

Lets hope they can bring F5 online and keep costs low should make a meaningful uplift in net income should it flow within the ranges noted pre-drill.