somethings crook in tallarook, page-15

I'm with 618 - I don't expect a capital rising is mandatory:

I Q4 07 STX had revenues of A$ 1.599 mio. witch comes mainly from Mesquite - therefore something about 0.5 mio. per month.

The current cash-level is A$ 6.965 mio. and they expect a cash outflow in the current Q1 2008 of A$ 5.7 mio. A$.

The daily D1 revenue is about A$ 100.000 for the JV - therefore A$ 0.5 mio. for STX per month (17% net interest).

So I would expect at the end of Q1 2008:

6,965 (cash)
-5,700 (Exploration and Development cost)
+1,500 (Sales from Mesquite)
+1,500 (Sales from Duncan #1)
+0,700 (Sales from testing D2St1 und GF1 - my eastimate)
-------
ca. A$ 5.0 mio. Cash at the end of Q1 2008

............................................

The cash outflow of A$ 5.7 mio. in Q1 is diveded to A$ 2.5 for Exploration - that should be mainly Florence und Phi/Cooper Basin and A$ 3.2 mio. for the Rayburn - Development.

The cost of a middle Wilcox - Well is about US$ 6,0 mio. (incl. testing and completion) - STX WI 22,8% - so STX share is about US$ 1,4 mio. bzw. A$ 1,5 mio. for STX per Well.

Therefore I think the A$ 3.2 mio. is for GF1 und HD1 only.

Simon Asthon said that they plan 3-4 further Development Wells in the first halfyear - so we have to expext further development costs of A$ 4.5 bis 6 mio. in Q2 2008. Lets say A$ 6 mio.

A financial szenario for the comming Quarter could be:

5,000 (Cash at the beginning of Q2)
-6,000 (Development Rayburn)
+1,000 (Sales from Mesquite)
+4,500 (Sales from D1, D2St1, GF-1)
+1,000 (Sales from testing HD1)
-------
ca. 5,5 mio. A$ Cash at the End of Q2 2008

- less possible further exploration cost for Florence and perhaps Phi-South in Q2 2008.

...........................................

to cut a long story short ... It seems that they can prefend a addition capital rising in the next months. In the second half of 2008 we will have monthly revenues of about A$ 2 mio. and that would be a solid szenario for the rest of the year.

... a vision for next year could be ...

8-10 Rayburn Wells are producing 100 mmcfd plus 2.600 bocd and STX could have a monthly net revenue of about A$ 5 million ...

and additional revenues from further exploration successes (i.e. Florence, Phi, ...) :-)

sorry for my english