I have been critical of this company's management in the past for over promising and under delivering. If this is not a great example of this exact phenomenon, then I don't know what is. Surely the amount of activity that is going on with this company deserved more commentary in the quarterly report than this - no doubt the management is busy being productive but the investing public does deserve information that might give them some hope of what may be to come.The good news is that there is only 92 days until the next quarterly report when over 300 bopd will be flooding in with cash to match - sorry for the cynicism. The release on October 15 with the bold headline "10 FOLD PRODUCTION INCREASE TO 300 BOEPD" does state that current production is 30 bodp so this reult should maybe not be surprising. But it also sets out the future production path to get to 300 bopd (NOTE: This is "post completion of capex program" - current cash on hand A$363k with next quarter Opex of A$524k, NO advice that the loan is available for draw-down in the cash flow statement, maybe this was post 30-Sep-18!!). Hopefully the new shiny Houston office is not going to distract them from the main game of getting on with producing oil for this company.
