From the half yearly;
Subsequent to 30 June 2014, the Company sold its remaining Denver‐Julesburg Basin assets. The sale price of
approximately $113.4 million in cash includes the reimbursement of capital expenditures incurred on 8 gross (3.1
net) non‐operated horizontal wells.
Subsequent to 30 June 2014, the Company sold its remaining Williston assets for approximately $14.5 million,
which included $10 million in cash and approximately $4.5 million in settlement of a net liability due to the buyer.
Subsequent to 30 June 2014, the Company completed the acquisition of working interests in approximately 9,200
gross (5,700 net) and 18,000 gross (5,400 net) mineral acres in Dimmit and Maverick Counties, Texas, respectively.
The purchase price includes an initial cash payment of approximately $35 million and a commitment
to drill four Eagle Ford wells. In addition, the Company has the option, at its sole discretion, to acquire the Seller’s
remaining working interests in Dimmit and Maverick Counties, Texas (including the Seller’s interest in producing
wells) for an additional $45 million.
The Company completed a capital raise of approximately A$80 million from the placement of 84.2 million
ordinary shares at A$0.95 per share and ended the period with pro forma cash of $124 million, consisting of cash
on hand and the transactions subsequent to 30 June 2014 mentioned above under Exploration and Development.
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LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
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