From the last Quarterly.
"Otto?s free cash reserve at the end of the quarter were US$30.434 million (December: US$22.948 million).
This excludes US$3.951 million (December: US$6.867 million) remaining in escrow to fund the SC 55
seismic acquisition and processing."(ie unspent BHP funds)
If you add $30.434m to $3.951m = Bingo Ottos closing cash balance last quarter = $34.385m.
Very little of this $3.951 was needed to complete the seismic, so imo OEL was at that time already holding about 1/2 of the back costs owed.
The other half they should get in a couple of weeks so it wont be included in the cash figure for this Quarter report out in 4 weeks and will fall in the Sept Quarter.
No doubt an announcement will be made in the mean time once BHP have completed the payment.
c
From the last Quarterly. "Otto?s free cash reserve at the end of...
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