Last Quarter (Sept 2023) Cash Balance was $47.382 Million (including Cash calls from Partner)
This Quarter (Dec 2023) Cash Balance was $42.836 Million (including Cash Calls from Partner)
So cash balance reduced by $4.546 million (including $1.6 million of -ve currency exchange).
So effectively spent around $3.0 million on drilling.
As Melbana is an operator - the cash call on the partner will increase while drilling (as the expense has to be tabled/reconciled and then recovered from partner - also depends on grace period given to partner). The cash will start to increase after drilling as cash calls will be recovered after reconciliation.
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- Ann: Quarterly Activities Summary Period Ended 31 December 2023
Ann: Quarterly Activities Summary Period Ended 31 December 2023, page-15
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