Petro T. costs
Petro Taranaki nl received $169,901 in the June quarter and spent $108,961 solely on administration.
The company’s liquidity situation at the end of the year was $1,805,514 after subtracting the loss on non-cash liquid assets of $33,633. In the June year funds received totalled $863,349 and expenditure was $806,852. Only $33,922 was spent on exploration during the year. The bulk of the
outgoings was investments and advances.
It said it has not yet received Foreign Investment Review Board approval for the purchase of Areco Holdings, Pty. Petro now has 20,542,750 shares on issue following the issue of 100,000 shares at 1c a share for management services.
Petro Taranaki is sponsored by Cue Energy Resources nl.
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Bibliographic details
Press, 25 July 1986, Page 11
Word Count
118Petro T. costs Press, 25 July 1986, Page 11
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