cottee, what's going on with the sp ??, page-13

"From what I can see from the March quarter statement our cash on hand should cover the drilling of Surprise East and admin costs, beyond that we have a quite a few quarters of admin costs covered assuming no input from Santos/Total/Surprise West (a very pessimistic assumption) and roughly the same cash burn rate as recent quarters."

If you look at the last quarterly the projected cash outflow for this current quarter is $9 mil. At the end of last quarter our cash left was $11.4 mil. There is only 6 weeks left in this quarter. So we will be left with around $2 mil plus maybe a few mil from Surprise revenue. If surprise East is to be drilled this quarter i don't think we have enough cash to cover it. With it estimating to cost $8 mil, and assuming that $2.5 mil development cost is actually for Surprise East, we still have $5.5 mil to cover. It is extremely unwise to run a company to the last drop of cash. Something has got to give. The market could be panicking on this scenario.

My logic is if RC needs to raise cash it should have been done already or needs to be done NOW. It is not prudent to wait until the last drop of money or bet on a successful Surprise East drill. Mt Kitty is not helping, so what is he waiting for? There must be an alternative arrangement I think.