June 2020 Quarterly Activities and Cashflow report

KEY ACTIVITIES AND HIGHLIGHTS

  • A$3.3 million cash as of 30 June 2020.
  • McDaniel & Associates have provided an updated independent resource assessment upgrading gross un-risked Contingent Resources – Development Pending of 248.9 BFCG and 12.4 MMBO; as shown in the table below
  • The acquisition of the Tommy Lakes Facilities closed 15 April 2020.
  • Kelt Exploration sells 139,962 acres of Montney acres to ConnocoPhillips for C$510 million, valuating the undeveloped acreage at C$1,400-$2,000 per acre
  • Appointment of M Freeman as Company Secretary

RESOURCE TABLE

Prospective
Resource (2U)
Contingent Resource (2C)
  Dev on holdDev PendingTotal Contingent
Natural Gas (MMCF)1,680,391639,208248,904888,113
Total Liquids (MBBL)84,03631,94712,46844,415
Total PJe2,2288473301,178
Total Tcfe2.180.830.331.15

CAPITAL STRUCTURE AND FINANCIAL SNAPSHOT

ASX CodeCE1Cash @ 30/6A$3.3 million
Share Price0.4 centNet Rec/(creditors)A$0.42 million
Shares2,155,572,225Working CapitalA$3.05 million
Market Cap$8.6 millionProducing wells1
Quarterly Rev$28,000Avg daily Production33 BOD
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