end of march - true company situation, page-2

I thought I'd go through the announcements and extract most of the data needed ready for the comparison between 2012 & 2013.


Summary from 2012 Annual Report

Shares outstanding 257M

Cash $3.349M
Prepayments $2.441M
Interest paid $1.5M

Debt facility outstanding $46,674M
Convertible Loan Notes (value outstanding) $14,036M
Total outstanding $60.710M

Wells

Cozart 19 No 1 fracced in late 2012, producing oil & gas as at 21/12.

Robinson No 1 3,000ft 11th Dec, 8,500ft 21st Dec, (so would have finished drilling in 2012 easily). Finished drilling, still awaiting frac (16th Jan 2013)

Debnam 22 No 1 still awaiting frac

Some (or all) of the above will account for the prepayments.

Dec 2012 production was 27,955 BO 128,224 MCF or 1929 BOEPD

Wells drilled in 2013

SS 20% WI in 3 wells - Nova 33 No 1 frac by Aug) & Billie Jo 33 No 2 (frac 14/8), Nova 33 No 2 - spud 5/10, finished by 11/11

Robinson No 2 - spud 15th June, frac 14/8

Debnam 22 No 1 - deepen 31st July, frac 30/9, producing 30+days 30/11

Cozart 11 No 1 - spud 10/10, finished by 11/11, frac 2nd week Dec

SLKT No 1 - spud 10/10, finished by 11/11, frac 3rd week Dec

Pettaway 7 No 1 - spud 11/11, near TD 30/11, frac 2nd week Jan

Barnes No 1 - spud 11/11, TD 4/12 frac 1st week Jan.

So 5 new wells drilled in 2013, 1 deepened slightly,
2 x 20% WI well completed & 1 x 20% WI drilled.

2013= 2M shares bought back @ $329,162 & $372,100 = $701,262

Sale of Hawksville = US$10M
Convertible Note's issued July 2013 = $5.96M
Convertible Note's issued October 2013 = $10M

So funds raised by company = @ 26M (exchange rate adj yet)

If cloak or anyone else wants other data to be compared later please post away.

LOTM