It appears that someone is easily pleased around these threads....

It appears that someone is easily pleased around these threads. Especially the Capital letters comment. Considering that just before consolidation we had only the equivalent of approx. 288 million shares on issue, (with bugger all debt), and just before consolidation we issued another 106million shares without disclosure to the shareholders as approval wasn't needed, and then straight after consolidation took place, we have ended up with an amount of total shares on issue of about 309million.

Ever since then we have been diluted like there is no tomorrow and we have total debts of $87,809,000 dollars owed to MQG earning interests every day of the week. Plus of course take notice that it also states that ""All Available Loans Have Been Used"".

Now, what does that mean.???

You can also calculate therein the interest charged to us by the Lender if you wish.

Also, I cannot help wondering if these exuberant posters have taken full notice of what is written in the part below which formed part of the latest Quarterly Report:

A $10 million deferred consideration payment was paid to Santos in June in respect of the Mereenie
acquisition, along with $0.3 million in funding Santos’ share of the Stage1 NGP appraisal works. A
final balancing payment of $3.3 million was made to Santos in July 2016 in accordance with the sale
and purchase agreement.
Cash received from oil and gas sales and other revenue for the Quarter totalled $5.8 million.
During the Quarter the Company made a principal repayment in respect of its expanded loan facility
with Macquarie Bank amounting to $1 million. In addition, quarterly interest payments totalling
$1.7 million were made.
Operating cash outflows for the Quarter included Production related expenditure of $2.5 million and
net administration costs of $1.0 million. Operating cash outflow also included $0.7 million of
exploration/appraisal payments related mainly to Stage 1 of the NGP field appraisal and reserves
upgrade project.
The Company constantly reviews its costs in order to prudently manage its cash position.
Issued Securities of the Company
At 30 June 2016 the Company had 433,197,647 ordinary shares on issue, 10,122,293 share rights
expiring on various dates and 68,660,952 unlisted options exercisable at various prices and with
various expiry dates.
During the quarter, a total of 972,547 share rights previously granted to employees were cancelled
and 40,000 unlisted options expired.


And then, for the believers, may I suggest that they go back a short while and pay a serious look at what a couple of Presentations dated the 4/09/13 and 27/09/13 are saying on slides # 5 of both presentation. Has any of that came to fruition.??

Good luck.