quarterly report encouraging, page-16

I'm not sure that is the answers to my concerns really.

If you take a look at the cash flow statement, it clearly shows receipts from sales at just $175,670 and then below it has interest from finance as a separate cost of $88,219.

I'm not really worried that they are making a loss at this stage but I would have expected a much highers receipt from sales given their website claims 168 producing wells.

I mean if 168 wells can only generate $175K - so to get to say a $2 million income per year they are going to need to have incoming cash flows of $500,000 per quarter they are going to need to at least double the current number of wells - given they only seem to drill around 10 odd per year - its going to take decades!

Something is not adding up to me, I just cannot believe 168 wells are producing such low receipts from sales

Dazzler