ImageAnnual Report

QUARTERLY REPORT FOR THE PERIOD ENDING DECEMBER 31, 1996

Appendix 5B

Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8.

Name of Entity
Victoria Petroleum N.L.
ACN or ARBN Quarter ended ('current quarter')
ACN 008 942 827 December 31, 1996

Consolidated statement of cash flows

Cash flows related to operating activities Current quarter
$A'000		 Year to date
( months)A$’000
1.1 Receipts from product sales and related debtors 551 857
1.2 Payment for a) exploration and evaluation (309) (854)
b) development - -
c) production (210) (336)
d) administration (note 2) (289) (476)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature received 11 64
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Other (provided details if material) 101 283
Net Operating Cash Flows (145) (462)
Cash flows related to investing activities
1.8 Payment for purchases of : a) prospects - -
b) equity investments - -
c) other fixed assets - -
1.9 Proceeds form sale of: a) prospects - -
b) equity investments - -
c) other fixed assets - -
1.10 Loans to other entities (note 3)
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) - -
Net investing cash flows - -
1.13 Total operating and investing cash flows (carried forward) (145) (462)
1.13 Total operating and investing cash flows (brought forward) (145) (462)
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 (145) (462)
1.20 Cash at beginning of quarter/year to date 2,103 2,424
2 (2)
1.21 Exchange rate adjustments to 19
1.22 Cash at end of quarter 1,960 1,960

Non-Cash financing and investing activities

2.1 Details of financing and investing transactions which has a material effect on consolidated assets and liabilities but did not involve cash flows
Nil
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
Nil

Financing facilities available

Amount available
A$’000		Amount used
A$’000
3.1 Loan facilities Nil Nil
3.2 credit standby arrangements Nil Nil

Estimated cash outflows for next quarter

$A’000
4.1Exploration and evaluation300
4.2 Development-
Total 300

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown n the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter
$A’000		 Previous quarterA$’000
5.1 Cash on hand and at bank 64 321
5.2 Deposits at call 1,896 1,782
5.3 Bank overdraft- -
5.4 Other (provide details)- -
Total: cash at end of quarter (item 1.22)1,9602,103

Changes in interests in mining tenements

Tenement reference Nature of interest (note (4) Interest at beginning of quarter Interest at end of quarter
6.1 Interests in mining tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements acquired or increased

Issued and quoted securities at end of current quarter

Number issued Number quoted Par value (cents) Paid-up value (cents)
7.1 Preference +securities(description)
7.2 Issued during quarter
7.3 +Ordinary
securities		 194,703,866
2,700,000		 194,703,866
-		 20c
20c		 20c
1c
22,700,000 - 20c 0.1c
7.4 Issued during quarter
7.5 +Convertible debt securities
(description)
7.6 Issued during quarter
Exercise price Expiry date
7.7 Options
(description)		 - - - -
7.8 Issued during quarter
7.9 Exercised during quarter
7.10 Expired during quarter10,900,000(cancelled)20c 1-11-1999
7.11 Debentures
(totals only)
7.12 Unsecured notes
(totals only)

Compliance Statement

  1. This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law or other standards acceptable to ASX. (see note 6).

  2. This statement does give a true and fair view of the matters disclosed.

Notes

  1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
  2. The aggregate amount of payments to suppliers and employees (item 1.2) made to directors of the entity and its related entities, associates of directors and associates of the entities (“specified parties”) must be disclosed by way of note with additional explanations necessary for an understanding of the transactions.
  3. The aggregate amount of loans (item1.10) made to specified parties must be disclosed by way of note.
  4. The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are no conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
  5. The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
  6. Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

Index
Highlights | Exploration

Horiz Line

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