You’d have to assume BRK no longer has any revenue. What needs...

You’d have to assume BRK no longer has any revenue. What needs to be clarified is if the wells are now loss making, is BRK obligated to contribute their share to keep them going? How does that work? Surely the operator doesn’t split the profits in the good times but cop the loss if things turn down? Will BRK announce to the market if and when the operators pull the pin and cease production?

I don’t see Merchant recouping their money in the drilling joint venture but lucky for BRK that’s Merchants problem.

At the end of last quarter BRK had approx AUD$1.2 million cash and debt of AUD$4.5 million costing 535k a year to service.

I would think without a decent acreage sale soon they’ll only have enough money for a few more months at the most.

The cash balance in the next quarterly will be very revealing.