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FSE - Firestone Energy Limited - Appendix 5B

Release Date: 29/07/2011 12:06
Code(s): FSE
Wrap Text

FSE - Firestone Energy Limited - Appendix 5B FIRESTONE ENERGY LIMITED (Registration number: ABN 058 436 794) (SA company registration number: 200/023973/10 Share code on the JSE: FSE Share code on the ASX: FSE ISIN: AU000000FSE6 ("FSE" or "the Company") Appendix 5B Mining exploration entity quarterly report Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity Firestone Energy Limited ABN Quarter ended ("current quarter")
71 058 436 794 30 June 2011 Consolidated statement of cash flows Current Year to date Cash flows related to operating quarter $A`000 activities $A`000 1.1 Receipts from product sales - - and related debtors
1.2 Payments for (a) (1,105) (4,628) exploration & evaluation - - (b) development - - (c) production (357) (1,401) (d) administration 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 8 57 1.5 Interest and other costs of - (35) finance paid 1.6 Income taxes paid - - 1.7 Other 20 215 Net Operating Cash Flows (1,434) (5,792)
Cash flows related to investing activities 1.8 Payment for purchases of: - - (a) prospects - - (b) (113) (2,826) 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 (provide details if - - material) (113) (2,826)
Net investing cash flows 1.13 Total operating and investing (1,547) (8,618) cash flows (carried forward) 1.13 Total operating and investing (1,547) (8,618) cash flows (brought forward) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, Convertible Notes etc. 3,603 10,503 1.15 Proceeds from sale of forfeited - - shares 1.16 Proceeds from borrowings - - 1.17 Repayment of borrowings - - 1.18 Capital raising costs (106) (141) 1.19 Other - Interest paid (1,318) (1,911) Net financing cash flows 2,179 8,451 Net increase (decrease) in cash 632 (167) held 1.20 Cash at beginning of 1,283 2,130 quarter/year to date 1.21 Exchange rate adjustments to (23) (71) item 1.20 1.22 Cash at end of quarter 1,892 1,892 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
1Aggregate amount of payments to the parties 1,174 .included in item 1.2 2 3 1Aggregate amount of loans to the parties - .included in item 1.10 2 4 1Explanation necessary for an understanding of the .transactions 2 5
Directors fees (inc Exp reimbursements) - $69K. Payments to wholly owned subsidiary, Lexshell Pty Limited, of which amounts are paid to third parties to make payments on behalf of Firestone Energy pursuant to its JV agreement with Sekoko Resources - $1,105K Non-cash financing and investing activities 2. Details of financing and investing transactions which 1 have had a material effect on consolidated assets and liabilities but did not involve cash flows N/A 2. Details of outlays made by other entities to establish 2 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 Amount used available $A`000 $A`000
3.1 Loan facilities $25,000 $24,700 (The holder of the Convertible Notes has converted A$3.4million to equity as at 30 June 2011. The outstanding convertible note liability for Firestone Energy as at 30 June 2011 is A$21.3 million)
3.2 Credit standby arrangements - - Estimated cash outflows for next quarter $A`000
4.1 Exploration and evaluation 1,070 4.2 Development -
4.3 Production - 4.4 Administration 400
Total 1,470 Reconciliation of cash Reconciliation of cash at the Current Previous end of the quarter (as shown quarter quarter in the consolidated statement $A`000 $A`000 of cash flows) to the related items in the accounts is as follows. 5.1 Cash on hand and at bank 1,892 1,283 5.2 Deposits at call - - 5.3 Bank overdraft - - 5.4 Other (provide details) - - Total: cash at end of 1,892 1,283 quarter (item 1.22) Changes in interests in mining tenements Tenement Nature of Interest Interest reference interest at at end (note (2)) beginning of of quarter
quarter 6.1 Interests in Nil mining tenements relinquished, reduced or lapsed
6.2 Interests in Nil mining 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 Issue Amount paid quoted price up per
per security security (see note (see 3) (cents) note 3)
(cents) 7.1 Preference Nil Nil +securities (description) 7.2 Changes during Nil Nil quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions 7.3 +Ordinary securities 2,781,314,361 2,781,314,361 Fully paid FSE 7.4 Changes during quarter (a) 154,286,341 154,286,341 Fully Paid Increase s through issues (b) Decrease s through returns of capital, buy- backs 7.5 +Convertible debt securities (description) 7.6 Changes during quarter 19 Nil $100,000 $100,00 (a) each 0 each Increases through (14) issues $100,000 $100,00 (b) each 0 each Decreases through securities matured, converted 7.7 Options Exe Expiry date FSEAK 30,000,000 Nil rci 30 Nov 2012 FSEAM 111,000,000 Nil se 31 May 2013 FSEAO 96,904,767 Nil pri 30 Jun 2013 FSEAI 25,875,000 Nil ce 30 Jun 2014 FSEO 42,382,500 42,382,500 5 31 May 2014 Cen ts
6 Cen ts 6
Cen ts 6 Cen
ts 4 Cen ts
7.8 Issued during 42,382,500 42,382,500 4 31 quarter Cen May 2014 ts
7.9 Exercised during quarter 7.10 Expired during quarter 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 Act or other standards acceptable to ASX (see note 4). 2. This statement does /does not* (delete one) give a true and fair view of the matters disclosed. Date: 29 July 2011 Company Secretary Print name: Mr Jerry Monzu 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 "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 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. 3. Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4. The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report. 5. 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. Pretoria 29 July 2011 Sponsor River Group Date: 29/07/2011 12:06:48 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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