reckoI am not disagreeing with your numbers, except to say that...

recko

I am not disagreeing with your numbers, except to say that I and others had attempted to determine whether RFE could complete the necessary HBP work during 2014, without additional funding.

So the march quarterly cash position was not a prime consideration.

The $39m quarterly development expenditure in the forward cash estimate was just that, an estimate. ( see also the note on page 4 of the quarterly which points this out).

However it may have been a catalyst for Gugga's concerns.

$39 m (in the estimate) would have covered a lot of work, considering that 12 wells were completed in the previous quarter for about $34m. (and considering that only 28 wells are needed for the HBP condition).

It also helps to explain the $11m land sale

Which a roundabout way of saying I agree but ...

So wait we must, and as pen suggests hope that Ellerston are on the ball. ( though they did buy about 15 m shares at 8c each, from memory, which makes it a bit easier for them).

Comments welcome.