Cash balance is better than I expected ...$13.657m!
Looks like its due to timing of the payments for the second well as there was only $7.399m paid in Development costs for the quarter and each of these horizontal wells are likely to be $6-$7.5m each
Still by pushing payment of those bills into the next quarter they should be able to offset a wedge of them with the initial receipts from the new well(s).
By my calcs I get a closing balance guestimate of just on $10m for March 31.
Next financial year looks like it will be a fun one.
TXN Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
