Ann: Welchau-1 Well Discovers Condensate Rich Gas, page-225

Hi Roch,

Could you please demonstrate the calculations of your estimated AUD$30Mill cap raise?

This recent drill 50% share for ADX capped was Euro$5.1M being more or less AUD $8.5Mill. Total estimated drill cost AUD$17 Mill

From what I read any further well costs will be split 75% ADX 25% MCF

I'm not sure what the cost will be for the drill rig to flow test? Assuming lets say another $17Mill,the cost for ADX is shy of AUD $13Mill

Anyone else have any insight to future costs to re-enter with another rig to flow test?