PTR MINERALS LTD — Interim / Quarterly Report 2007

Jan 28, 2007

APPENDIX 5B Mining exploration entity quarterly report

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PETRATHERM LTD

		Quarter ended
ABN 17 106 806 884		31-Dec-06
Consolidated statement of cash flows
		Current quarter	Year to date
Cash flows related to operating activities			(6 months)
		\$A'000	\$A'000
1.1 Receipts from product sales and related debtors
1.2 Payments for	(a) exploration and evaluation	(51)	(855)
	(b) development
	(c) production
	(d) administration	(449)	(631)
1.3 Dividends received
1.4 Interest and other items of a similar nature received		42	49
1.5 Interest and other costs of finance paid 1.6 Income taxes paid
1.7 Other - PACE Funds Received
1.7 Other - Rebates
Net Operating Cash Flows		(458)	(1, 437)
Cash flows related to investing activities
1.8 Payment for purchases of:	(a) prospects
	(b) equity investments
	(c) other fixed assets	(21)	(24)
1.9 Proceeds from sale of:	(a) prospects
	(b) equity investments
	(c) other fixed assets	2	2
1.10 Loans to other entities
1.11 Loans repaid by other entities
1.12 Other (provide details if material)
Net Investing cash flows		(19)	(22)
1.13 Total operating and investing cash flows
(carried forward)		(477)	(1, 459)

	1.13 Total operating and investing cash flows
	(brought forward) (477) (1, 459)
	Cash flows related to financing activities
	1.14 Proceeds from issues of shares, options, etc.	2,080		2,080
	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 (Share issue costs)	(104)		(104)
	Net financing cash flows	1,976		1,976
	Net increase (decrease) in cash held	1,499		517
	1.20 Cash at beginning of quarter / year to date	1,572		2,554
	1.21 Exchange rate adjustments to item 1.20
	1.22 Cash at end of quarter	3,071 3,071
	Payments to directors of the entity and associates of the directors
	Payments to related entities of the entity and associates of the			Current quarter \$A'000
	related entities
	1.23 Aggregate amount of payments to the parties included in item 1.2			35
	1.24 Aggregate amount of loans to the parties included in item 1.10
	1.25 Explanation necessary for an understanding of the transactions
	Directors' fees, superannuation for the Quarter
	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
	Nil

3

÷.

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
	3.2 Credit standby arrangements

Estimated cash outflows for next quarter	\$A'000
4.1 Exploration and evaluation	80
4.2 Development	$\mathbf{a}$
Total	80

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
Cash on hand and at bank 5.1	49	235
Deposits at call 5.2	3,022	1.337
Bank overdraft 53.
Other (provide details) $-30$ and 60 day term deposits 5.4
Total: cash at end of quarter (item 1.22)	3.071	1.572

Changes in interests in mining tenements

		Tenement reference	Nature of interest	Interest atl Interest atl beginning	end of
			(note 2)	of quarter	quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed	GEL 254	Acquired	0%	100%
6.2	Interests in mining tenements acquired or increased

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Issued and quoted securities at end of current quarter

		Total number	Number quoted	Issue price per security (cents)	Amount paid up per security (cents)
7.1	Preference securities
	(description)
7.2	Changes during quarter
	(a) Increases through
	ÍSSUeS
	(b) Decreases through
	returns of capital, buy- backs, redemptions
7.3	Ordinary securities	49,875,001	49,875,001	Fully Paid	Fully Paid
7.4	Changes during quarter
	(a) Increases through ÍSSUeS	6,500,000	6,500,000	32 cents each	32 cents each
	(b) Decreases through
	returns of capital, buy-
	backs
7.5	Convertible debt
	securities
	(description)
7.6	Changes during quarter
	(a) Increases through ÍSSUes
	(b) Decreases through
	securities matured,
	converted
				Excise Price	Expiry Date
7.7	Options	5,000,000		20 cents each	24/03/2009
	(description and conversion factor)	2,600,000		20 cents each	4/04/2009
		2,000,000		20 cents each	26/07/2009
		650,000		20 cents each	27/07/2009
		40,000		32 cents each	23/09/2009
		50.000		32 cents each	15/12/2009
		30,000		40 cents each	31/12/2010
		40,000		40 cents each	5/02/2011
		200,000 200,000		32 cents each 37 cents each	21/05/2011 21/05/2011
		50,000		32 cents each	29/05/2011
		750,000		32 cents each	30/04/2012
		750,000		37 cents each	30/04/2013
7.8	Issued during quarter

		5
7.9	Exercised during quarter
	7.10 Cancelled during quarter
7.11	Debentures (totals only)
	7.12 Unsecured notes (totals only)

Compliance statement

• $1.0$ 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).
• This statement does give a true and fair view of the matters disclosed. $2.0$

Donald Aughers

Sign here:................................... Company Secretary

19/01/2007

DONALD STEPHENS

Print name: . . . . . . . . . . . . . . . . . . . .

Notes

1.0	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.
2.0	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 fist required for items 6.1 and 6.2.
3.0 1	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.
4.0	The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
5.0	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.