Appendix 8 - 1 July 1995
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10, 17/12/10, 01/05/2013
Name of entity
|
SUN RESOURCES NL
|
ABN
|
Quarter ended ('current quarter')
|
69 009 196 810
|
30 SEPTEMBER 2015
|
Consolidated statement of cash flows
Cash flows related to operating activities
|
Current quarter
$A'000
|
Year to date (3 months)
$A'000
|
1.1
|
Receipts from product sales and related debtors
|
26
|
26
|
1.2
|
Payments for (a) exploration and evaluation
-
development
-
production
-
administration
|
(625)
- (14)
(372)
|
(625)
- (14)
(372)
|
1.3
|
Dividends received
|
-
|
-
|
1.4
|
Interest and other items of a similar nature received
|
1
|
1
|
1.5
|
Interest and other costs of finance paid
|
-
|
-
|
1.6
|
Income taxes paid
|
-
|
-
|
1.7
|
Other
|
-
|
-
|
Net Operating Cash Flows
|
(984)
|
(984)
|
Cash flows related to investing activities
|
-
-
-
|
-
-
-
|
1.8
|
Payment for purchases of: (a)prospects
(b)equity investments (c)other fixed assets
|
1.9
|
Proceeds from sale of: (a)prospects
(b)equity investments (c)other fixed assets
|
-
-
-
|
-
-
-
|
1.10
|
Loans to other entities
|
-
|
-
|
1.11
|
Loans repaid by other entities
|
-
|
-
|
1.12
|
Other
|
-
|
-
|
Net investing cash flows
|
-
|
-
|
1.13
|
Total operating and investing cash flows (carried forward)
|
(984)
|
(984)
|
1.13
|
Total operating and investing cash flows (brought forward)
|
(984)
|
(984)
|
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 convertible notes
|
-
|
-
|
1.17
|
Repayment of borrowings
|
-
|
-
|
1.18
|
Dividends paid
|
-
|
-
|
1.19
|
Other
|
-
|
-
|
Net financing cash flows
|
-
|
-
|
Net increase (decrease) in cash held
|
(984)
|
(984)
|
1.20
|
Cash at beginning of quarter/year to date
|
1,282
|
1,282
|
1.21
|
Exchange rate adjustments to item 1.20
|
23
|
23
|
1.22
|
Cash at end of quarter
|
321
|
321
|
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
Current quarter
$A'000
|
1.23
|
Aggregate amount of payments to the parties included in item 1.2
|
97
|
1.24
|
Aggregate amount of loans to the parties included in item 1.10
|
Nil
|
1.25 Explanation necessary for an understanding of the transactions
1.23 Directors receive directors' fees for serving on the Board. The Executive Director is paid according to his contract.
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
|
In May 2015, Sun Resources NL ('Sun') executed a binding agreement with Amerril Energy LLC ('Amerril') to take control of all previously jointly held oil and gas leases in the Lower Woodbine oil fairway. In consideration for the assignment of these leases by Amerril, Sun intended to pay to Amerril US$2 million as a deferred settlement in the event a new partner joined Sun in these lease positions, via farm-in arrangement, other funding option or outright sale by 12 September 2015. This payment was not completed by 12 September 2015 and Sun's 100% control in previous jointly held oil and gas leases reverted to 50%.
Sun isssed 151,706,317 shares at 0.16 cents in August 2015 for services provided by Sun's Directors and contractors.
|
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
|
N/A
|
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available
$A'000
|
Amount used
$A'000
|
3.1
|
Loan facilities
|
N/A
|
N/A
|
3.2
|
Credit standby arrangements
|
60
|
1
|
Estimated cash outflows for next quarter
$A'000
|
4.1
|
Exploration and evaluation
|
250
|
4.2
|
Development
|
-
|
4.3
|
Production
|
15
|
4.4
|
Administration
|
250
|
Total
|
515
|
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.
|
Current quarter
$A'000
|
Previous quarter
$A'000
|
5.1
|
Cash on hand and at bank
|
321
|
1,282
|
5.2
|
Deposits at call
|
-
|
-
|
5.3
|
Bank overdraft
|
-
|
-
|
5.4
|
Other (provide details)
|
-
|
-
|
Total: cash at end of quarter (item 1.22)
|
321
|
1,282
|
Changes in interests in mining tenements and petroleum tenements
Tenement reference
|
Nature of interest (note (2))
|
Interest at beginning of quarter
|
Interest at end of quarter
|
-
|
Refer Attachments
(A) and (B)
|
-
|
-
|
-
|
Refer Attachments
(A) and (B)
|
-
|
-
|
-
Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed
-
Interests in mining tenements and petroleum tenements acquired or increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Total number
|
Number quoted
|
Issue price per security (see note 3) (cents)
|
Amount paid up per security (see note 3) (cents)
|
7.1
|
Preference
+securities
|
-
|
-
|
-
|
-
|
7.2
|
Changes during quarter
-
Increases through issues
-
Decreases through returns of capital, buy-backs, redemptions
|
-
-
|
-
-
|
-
-
|
-
-
|
7.3
|
+Ordinary
securities
|
4,623,198,720
|
4,623,198,720
|
-
|
-
|
7.4
|
Changes during quarter
-
Increases through issues
-
Decreases through returns of capital, buy-backs
|
151,706,317
-
|
151,706,317
-
|
-
-
|
-
-
|
7.5
|
+Convertible debt securities (description)
|
-
|
-
|
-
|
-
|
7.6
|
Changes during quarter
-
Increases through issues
-
Decreases through securities matured, converted
|
-
-
|
-
-
|
-
-
|
-
-
|
7.7
|
Options (description and conversion factor)
Ordinary Share Options 1:1
Performance Options 1:1 Class E
Class F
|
5,000,000
5,000,000
5,000,000
258,586,308
285,000,000
65,000,000
75,000,000
|
-
-
- 258,586,308
-
-
-
|
Exercise price
5.7 cents
6.7 cents
7.6 cents
2.5 cents
0.15 cents
Exercise price
0.1 cents
0.1 cents
|
Expiry date
03/05/2016
03/05/2016
03/05/2016
30/09/2017
17/08/2018
Milestone expiry date
31/08/2016
31/08/2016
|
7.8
|
Issued during quarter
|
285,000,000
|
-
|
Exercise price
0.15 cents
|
Expiry date
17/08/2018
|
7.9
|
Exercised during quarter
|
-
|
-
|
Exercise price
-
|
Expiry date
-
|