RE: New ANZUS Prospect, SGC14 Sep 2018 13:51
Rathole
This is why i think funding is minimal. Look at the figures received and the outlays required. Also, this doesnt mention the cash that TK has personally that he can put into the company
In July 2018 the Company received notification from the United States Internal Revenue Service (IRS) that it would receive US$905,000 on 23 July 2018, being a refund of 2017 corporation tax paid.
In June 2018 the Company received US$396,000 from HM Revenue & Customs (HMRC), being a refund of 2017 corporation tax paid.
The Company's committed work program for the Geophysical Service Agreement (GSA) phase for Block 29/11 included acquisition, processing and interpretation of 500km2 for a 3D seismic survey, and a financial commitment of US$3 million. The Company exceeded the work program commitments during the 2018 financial year. Therefore, commitments for the 2019 financial year consist only of an annual assistance fee to CNOOC of US$60,000 and an annual personnel representative fee to CNOOC of approximately US$160,000.
Mako South-1 well offshore Indonesia
Having completed the successful drilling test program at the Mako South 1 well during the 2018 financial year, the Company has commitment in the 2019 financial year of US$120,000 to complete the Plan of Development for submission to the Indonesian regulator during Q3 2019. Subsequent financial commitments and related cash calls are likely to be finalised during Q4 2019 and will be dependent on the agreed work program going forward