unusual interest in bass, se longtom a winner?, page-11

Iona
In a recent phone call to BAS, AA told me verbal approval for variation in commitments of VicP41 had been given.

I didn't ask how much the seismic reprocessing would cost but I was told its nearing completion.

I note total exploration and admin costs for Dec qtr are only $250k according to the Sept cashflow rpt.
Some of that $250K will be offset by bank interest and payments from JV partners.

I estimate we'll have ~$3mil cash remaining when Windermere#3 spuds around April 2011, timing subject to rig avail.
The vertical well will cost approx $2.6mil, BAS share $1.3mil.
My "guess" is they'll raise ~$2mil pre spud to cover Windemere costs and maintain cash at current levels.
Looking fwd to the post 3D resource update for PEP167.