So Sept quarter, Sonogol debt after payment of $8m was $16.1m
Dec quarter, Sonogol have paid another $5.1 but now owe $22.7m
MAY expenditure for Dec quarter was $10m so presumably Sonogol gross debt would increase by $7m (approx) rather than $11m.
Figures don't seem to add up do they? I'm happy to be wrong but I don't do blind trust.
Also the $20.1m 'cash on hand' includes the USD $7.5m (ie $A11m) which is quarantined by USA embargo so the cash coffers are actually around $A9m.
Another curious item; the report says 20 truck loads of oil for 2715 barrels. This is only 135 barrels per truck? Sites I have worked on shipped 300 barrels per heavy rigid and 600 / 900 is a truck and trailer. Is my memory correct with these figures? Maybe because of the roads?
Anyway, we all need to hope that Sonogol stoomp up the outstanding cash, we still have about 60 days of the 95 day drill program to go so its going to be expensive.
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