Carbon Minerals : December 2015 Quarterly Activities and Cashflow Reports (New)

143fa41e-a118-41fa-ba1b-6d016721a279.pdf Carbon Minerals Limited

ABN 29 001 836 586 - ASX Code CRM

Seam Gas Pioneers of the Gunnedah Basin NSW

www.carbonminerals.com.au

Level 7, 10 Barrack Street Postal Address

SYDNEY NSW 2000 GPO Box 120

Phone [phone] SYDNEY NSW 2001

Fax + 61 (0)2 9262 1638

[e-mail]

QUARTERLY ACTIVITIES REPORT

to December 31, 2015

REVIEW of OPERATIONS

GUNNEDAH BASIN COALBED METHANE PROJECT

PETROLEUM EXPLORATION LICENCES 1 AND 12, NSW (GUNNEDAH BASIN)

These tenements are held by wholly owned subsidiary, Australian Coalbed Methane Pty Ltd (ACM) and are subject to a Joint Venture (JV) with Santos QNT Pty Ltd (Santos), as previously advised. Santos holds a 65% interest in the tenements and is the project Operator.

During the quarter field operations entailed routine well maintenance. Environmental monitoring included additional background methane emissions survey work and baseline groundwater sampling.

The work program and budget for 2016 has been approved by the JV partners. PEL1 remains under renewal application and additional documentation, as required by changes in administrative requirements, was supplied by JV Operator Santos to the Regulator (Department of Industry Resources and Energy). Renewal is anticipated early in 2016.

Santos continues with community consultation matters including comments to the media and meetings with community groups.

Securing a cleaner energy future

1

CARBON MINERALS LIMITED ABN 29 001 836 586

QUARTERLY ACTIVITIES REPORT

FOR THE THREE MONTHS ENDED 31 DECEMBER 2015

Exploration Expenditure Incurred

Exploration expenditure incurred during the quarter ended 31 December 2015 on the group's projects is set out below:-

Project Amount Incurred

New South Wales

PELs 1 & 12 (Gunnedah Basin) $90,804

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SCHEDULE OF MINERAL TENEMENTS AS AT 31 DECEMBER 2015

LOCATION	TENEMENT	HOLDER	INTEREST	AREA	CURRENT TO
New South	PEL 1	ACM	35%1	72 blocks	10/02/20152
Wales:
Gunnedah
Bando	PEL 12	ACM	35%1	31 blocks	26/09/2016

Key to Tenement Types

PEL Petroleum Exploration Licence

Key to Tenement Holders

ACM Australian Coalbed Methane Pty Limited

Notes

1. PELs 1 and 12 are subject to an arrangement with Santos QNT Pty Ltd ("Santos"), in which Santos has a 65% interest in each tenement.

   
   

2. Application for renewal submitted.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Appendix 5B

Rule 5.5

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

CARBON MINERALS LIMITED

ABN Quarter ended ("current quarter")

29 001 836 586

31 DECEMBER 2015

Consolidated statement of cash flows

Cash flows related to operating activities Receipts from product sales and related debtors Payments for (a) exploration & evaluation development production administration Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Income taxes paid Other (provide details if material) Net Operating Cash Flows		Current quarter $A	Year to date (12 months) $A
		6,980 (93,800) - - (71,191) - 46,089 - - (458)	22,969 (410,710) - - (235,203) - 148,782 - - (2,132)
		(112,380)	(476,294)
1.8	Cash flows related to investing activities Payment for purchases of: (a) prospects equity investments other fixed assets Proceeds from sale of: (a) prospects equity investments other fixed assets Loans to other entities Loans repaid by other entities Other (provide details if material) Net investing cash flows Total operating and investing cash flows (carried forward)	-	-
-		-
-		-
1.9		-	-
-		-
-		-
1.10		-	-
1.11		-	-
1.12		-	-
-		-
1.13		(112,380)	(476,294)

+ See chapter 19 for defined terms.

01/05/2010 Appendix 5B Page 1

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

1.13	Total operating and investing cash flows (brought forward)	(112,380)	(476,294)
Cash flows related to financing activities	-	-
1.14			Proceeds from issues of shares, options, etc.
1.15	Proceeds from sale of forfeited shares	-	-
1.16	Proceeds from borrowings	-	-
1.17	Repayment of borrowings	-	-
1.18	Dividends paid	-	-
1.19	Other (provide details if material)	-	-
Net financing cash flows	-	-
Net increase (decrease) in cash held	(112,380)	(476,294)
1.20	Cash at beginning of quarter/year to date	5,106,584	5,470,498
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	4,994,204	4,994,204

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

Current quarter

$A

1. Aggregate amount of payments to the parties included in item 1.2 39,600

   
   

2. Aggregate amount of loans to the parties included in item 1.10 -

   
   

3. Explanation necessary for an understanding of the transactions

Item 1.2(d) includes secretarial fees paid $39,600 to an entity, of which a company director is a consultant and an alternate director is a principal.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

+ See chapter 19 for defined terms.

Appendix 5B Page 2 01/05/2013