Ann: Quarterly Report and Appendix 5B, page-6

Firstly, poor attention to detail on the 5B. Only 4.6 was updated in section 4, all other numbers are from last quarter. And even then I believe 4.6 should read 5184 not 5148.  Assuming 5.4 is correct, 5.1 Bank Balances should then read 3024 not 3628. Otherwise, good looking quarterly.

Three positive operating quarters in a row! Accounts keep shifting estimated production costs out though so I'm hoping these numbers aren't coming at the cost of getting on top of the maintenance backlog. 

Routine cost of production hasn't really shifted but price of oil has so Q1 is going to be lean. If production costs come in as expected we'll see losses ~1m even at 1000bopd.

Interesting to note minimal exploration expenditure expected Q1, presumably this is KEY related evaluation.

Treading water until either Xanadu, GAS or brent confirms the upside, hopefully by end of quarter for all 3.