what vpe have spent, page-6

mljet

Some quick numbers that WASA and TUI as holders may or may not agree with.

Current cash end of Q $44 mill
Expected development costs this q $4mill
Admin (not sure ) $2mill
ITC shares $5.4mill plus brokerage

Leaves you with say $33mill

You have a large ongoing CSG project that will need alot of capital.

You also have a large oil program to fund in Sept with circa $12-$14 mill to spend not including facility upgrades etc etc leaving you well under 20 mill.

To buy another 9.5% woul cost closer to $6 - 6.5 mill as the average sp paid would go up aas the register tightens and may even be more .

Net amount left would be 10mill. This does not take into acct CSG development beyond this Q.

Vic Pet haven;t got the cash and the 10% stake blocks nothing.

I wish I could share someting on VPE with you here but can;t and you won;t have long to wait.