CARBON MINERALS ABN 29 001 836 586 - ASX Code CRM
Seam Gas Pioneers of the Gunnedah Basin NSW
www.carbonminerals.com.au
Suite 3, Level 2, 66 Clarence Street Postal Address
SYDNEY NSW 2000 GPO Box 120
Phone +61 (0)2 9299 3655 SYDNEY NSW 2001
Fax + 61 (0)2 9262 1638
admin@carbonminerals.com.auinfo@carbonminerals.com.au
QUARTERLY ACTIVITIES REPORT
to March 31, 2016
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 has a 65% interest in the tenements and is the project Operator.)
Field operations remain limited to routine fortnightly inspections and well maintenance if necessary. This included well integrity testing in PEL1.
As reported previously, new NSW legislation that makes significant changes to the regulation of petroleum exploration and development in NSW was passed in the last quarter of 2015 but not all the Bills or provisions have commenced to have effect and further amendments to Regulations are expected1. Amongst other matters the changes incorporate a range of conditions relevant to the granting or renewal of Petroleum Exploration Licences. Many conditions that were previously detailed in the specific licence documents are now covered by the legislation and common to all PELs. Until the new legislation is fully operational, renewal of NSW petroleum licences including PEL1 remains pending.
Santos continues with community consultation matters including tours of the Kahlua pilot and suspended wells, comments to the media and meetings with community groups. In January 2016 Santos representative met with BHP Billiton to inspect five rehabilitated boreholes relating to BHP's Caroona coal project, a mining tenure that overlaps PEL 1. It was agreed that the boreholes were in a satisfactory condition.
1 http://www.edonsw.org.au/mining_and_petroleum_legislation_amendment_package_2015
Securing a cleaner energy future
1
CARBON MINERALS LIMITED ABN 29 001 836 586
QUARTERLY ACTIVITIES REPORT
FOR THE QUARTER ENDED 31 MARCH 2016
Exploration Expenditure Incurred
Exploration expenditure incurred during the quarter ended 31 March 2016 on the group's projects is set out below:-
Project Amount Incurred
New South Wales
PELs 1 & 12 (Gunnedah Basin) $81,616
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SCHEDULE OF MINERAL TENEMENTS AS AT 31 MARCH 2016
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
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.
Application for renewal submitted.
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Appendix 5BRule 5.5
Mining exploration entity and oil and gas exploration entity quarterly reportIntroduced 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 MARCH 2016
Consolidated statement of cash flowsCash flows related to operating activities
| Current quarter $A | Year to date (3 months) $A | |
5,141 (81,616) - - (60,357) - 2,052 - - (771) | 5,141 (81,616) - - (60,357) - 2,052 - - (771) | ||
(135,551) | (135,551) | ||
1.8 | Cash flows related to investing activities Payment for purchases of: (a) prospects
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 | (11,000) | (11,000) | |
1.11 | - | - | |
1.12 | - | - | |
- | - | ||
1.13 | (146,551) | (146,551) | |
+ 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) | (146,551) | (146,551) |
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 | (146,551) | (146,551) | |
1.20 | Cash at beginning of quarter/year to date | 4,994,204 | 4,994,204 |
1.21 | Exchange rate adjustments to item 1.20 | - | - |
1.22 | Cash at end of quarter | 4,847,653 | 4,847,653 |
Current quarter
$A
Aggregate amount of payments to the parties included in item 1.2 33,000
Aggregate amount of loans to the parties included in item 1.10 11,000
Explanation necessary for an understanding of the transactions
Item 1.2(d) includes secretarial fees paid $33,000 to an entity, of which a company director is a consultant and an alternate director is a principal.
Item 1.10 represents a loan to a related entity $11,000.
Non-cash financing and investing activities2.1 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
Carbon Minerals Ltd. issued this content on 25 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 April 2016 13:46:30 UTC
Original Document: http://www.carbonminerals.com.au/March%202016%20Quarterly%20Activities%20and%20Cash%20Flow%20Report.pdf
