So if my guesstomat is right, at June 30th we would have aprox 4 x month receipt of 3.333 mill plus 15 mill plus 3 mill placement. Equal = 31.3 million less expected outlay of 8.7 mill.
Equals Cash balance of aprox 22.6 million plus 2 more wells would have been drilled.
No brainer.
Ann: Quarterly Activities Report , page-2
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