mljetSome quick numbers that WASA and TUI as holders may or may...

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.