Ann: Quarterly Activity and Cashflow Report, page-5

Good to see Stonehorse Energy CEO has been busy growing the company via investment that should reassure some investors and doubters.

		30/06/2023	31/07/2023
1	Mean BRKshare price for quarter	0.012857	0.014
2	SHE holdsBRK shares of valued at	675000	735,008
3	SHE Cash in bank at 30/6/2023	10,740,000

Calculation of what SHE equivalent cash position if Cert s investment was kept as cash.

	Table for Cash+Recent income + BRK etc shares	AUD$	Per Share AUD$
1	SHE Share price (1)	0.017
2	NumberStonehorse energy shares (2)	684,435,083
3	SHE Market Cap (3) = (1)*(2)	11,635,396	0.017
4	SHE Revenue for 3 months	485,000
5	SHE Estimated Income 0 1/6/2023 topost(today) (4)	161,667
6	SHE Estimated cash in bank (5) = (4)+(3)	10,901,667	0.0159
7	SHE cash Equivalents Estimate Cash + BRK shares (6)	11,636,675	0.0170
8	If Certus well paid for prior to Quarterly report ?
9	Certus investment 1-27-33 $CAD (7)	2,520,000
10	Certus investment$AUD @ CAD/AUD =1.13 =1.13*(7)= (8)	2,847,600
11	Cash+Equivalents if not invested in Certus well (8)+(6)	14,484,275	0.0212

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Above Table demonstrates that if we treat Certus well value as equivalent to being what the initial investment was and if occurred prior to quarterly report then share price should be minimum 2.1 cents if tracking cash assets instead of the current 1.7 cents.
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Current and planned production of Proton well

		BOPD	BO/PM	BOE/PM (AUD)
1	Proton well	25	757.75	14,390
2	should current;y be producing	50	1520	28,865
3	Planned increased to 500 BOE/PD	500	15200	288,648

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Jewell well returned a profit of around 50% on initial investment
Proton loans should returns similar in less time
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If maybe that the Certus Well may have a significant impact of revenue and profit like the Jewell well with the option to repeat 3 more times.
Reports on Myall creek should come within 5 months.
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The next 6 months should be very exciting with visible larger revenue and cash positions by mid 2024 demonstrating Stonehorse can continue its historic revenue growth and cash accretion via high return investment.