Highlights
Reserves Study
- 5.0 million BOE P1 & P2 of Reserves from Spraberry-Dean formation in Permian project leaseholds.
Permian Project
- SRH-5H fracture stimulation completed, well expected to be placed on production in May – June 2013.
- SRH – 1 well returned to production on April 21 2013 and the SRH-2 well expected to return to production in early May 2013.
Eagle Ford Project
- 10% Working Interest sold for US$1.7 million.
Corporate
- Cash balance as at 31 March 2013 was AU$ 1.2 million.
- Up to AU$7.5 million working capital finding facility secured * AU$3.2 million capital raised through underwritten Entitlement Issue.
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