At least they didn't wait until after market to put the Quarterly out to disguise any bad or hidden news (lol);
The Company says things are looking very encouraging and that it has "major new Victorian gas resources";
The Company is currently raising $11m to drill Wombat 4 & other exploration purposes. As we know the Rig is on the way from the NT., and the actual spud of Wombat 4 is planned for late September;
PEP166 (which is near the Longford plant) interest me but nothing is being done on this yet;
The Company is also exploring CSG potential in the Eromanga Basin in Qld where it holds other tenements;
Cash at the end of the Quarter ~$6.29m
Cash burn this quarter was ~$928k; Estimated burn the next Quarter is ~$2.75m.
Cheers, Pie (:
LKO Price at posting:
1.1¢ Sentiment: None Disclosure: Held
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