Did anyone see the forecast cash outflows in the next quarter? A$31M.
That is a huge spend, notwithstanding they will start to see some money from Galoc Phase II sales with the first shipment at the end of November turning into cash at the end of December.
With only $5M of cash left in the debt facility, that means $26M will need to come out of the existing cash reserves until such time and Galoc Phase II is back on stream.
Further to this, the drilling of Baragatan is expecting to cost them at least US$12M.
That is some serious chunk out of the cash reserves for a junior oiler.
Ann: Quarterly Activities Report , page-4
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