The below is our CEO's response to your query.'I am writing to...

The below is our CEO's response to your query.

'I am writing to answer your query about administration costs, as shown
in the recent Quarterly Cashflow Statement. Several other people have
contacted me about this. In fact, it is an ambiguity caused by the
format of the report. Administration costs were $0.9 million in the last
quarter. The figure of $2 million shown in the report is cashflow not
expense and is a combined amount for admin cost + VAT paid + tax
pre-paid. I trust the lower figure is more in line with your
expectations.'

Any further questions please do not hesitate to ask.

Kind Regards
Sue

Sue Cullen
Office Manager
Hawkley Oil & Gas Limited