Ann: Quarterly Activities Report, page-19

Here's the thing.. Quarterlies are reported based on spend during the last quarter. Last quarter $3.5m spent drilling, obviously this will not happen every quarter as the stated intention is to progress to simulation fracking and production flow-testing for the Carpentria-1 well. At usd11m, they should have enough to last through to middle of next year at least, by which time the commercialisation planning will be well and truly in place and you are looking at a development play and not an exploration play anymore.