Banter and General Comments .. BRK, page-90

That $10 million was before the exercise of~234 million options which raised ~$2.6million. We have to subtract the US$1.05 million (~AUD$1.36 million) paid back into the Anadarko leasing facility, bringing that debt down to US$2.8 million. That would leave ~AUD$11 million in the kitty.

According to the AGE Jewell will cost ~US$8.4 million or~AUD$10.7 million. Right now we have ~13-15% of the WI deciding if it is going to participate in the drilling, or accept pooling . So at most if the well doesn't go over , BRK will be up for ~AUD$5.4 million. Depending on what other costs have been spent over the last few months like completing Jewell pooling, leasing for Rangers and Flames and general running costs, IMO we are pretty close to being fully funded for Rangers at a 50% level. Then there are any further oppie conversions that you would expect to come in over the next period to add to the cash.

If SHE in the unlikely event decide not to participate in Rangers, with the new credentials BRK/ BM have achieved with how Jewell has gone so far, IMO there should be enough interest from 3rd parties to step in for SHE. Not sure they would be tier 1 operators though as I think those discussions would be for later on down the track as part of the monetisation process IMO.

BRK shouldn't need to raise for Rangers. Having said that, if the share price skyrockets to say 5 or 6 cents all of a sudden, you would think they may do a speck raise of 100 or so million shares to top up the kitty, not withstanding oppie conversions, they would be silly not to under those circumstances.

Cheers

Dan