what's happening, page-13

>>Page 2
"The capital budget for 2013 is subject to change, pending the result of the Texas Value Maximization Process"<<

I believe that that actually means they wont go through with some of that expenditure, if after the "Texas Value Maximization Process" they decide to sell their acreage there.
It means they wont have obligations to perform to keep the leases. Such as drilling 1 more well in Barnhart.
As for the expenses and income,
I am hoping there is not too much separating them apart from the 14 million budgeted to spend to maintain the leases.
With Natural gas prices rising, they should be collecting a better net payback and should be almost keeping up with their administration expenses.
With reference to Buddy's point about cheaper costs if they were producing in Australia, I am not sure how true that is. The Aud $ might be less than the USD but drilling costs, employer and infrastructure costs would be much greater.