PTR MINERALS LTD — Interim / Quarterly Report 2010

Jul 29, 2010

Appendix 5B

Rule 5.3

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity
----------------	--

PETRATHERM LTD

17 106 806 884 30th JUNE 2010

ABN Quarter ended ("current quarter")

Year to date (12.months)

Current quarter $A'000

Consolidated statement of cash flows

Cash flows related to operating activities

				$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments forevaluation	(a) exploration and(b) development(c) production	(3,988)	(24,779)
		(d) administration	(629)	(2,468)
1.31.4	Dividends receivedInterest and other items of a similar naturereceived		24	206
1.5	Interest and other costs of finance paid		-	-
1.6	Income taxes paid		-	-
1.7	Other (Joint Venture Repayments)		1,595	6,928
	Other (REDI Grant Proceeds)		-	537
	Other (GDP Grant Funding [GST inc.])		-	4,620
	Other (Other Grant Funding)		-	143
	Other (R & D Tax offset)		287	287
	Net Operating Cash Flows		(2,711)	(14,526)
	Cash flows related to investing activities
1.8	Payment for purchases of:	(a)prospects(b)equityinvestments(c)otherfixed	(4)	(90)
1.9	Proceeds from sale of:	assets(a)prospects(b)equityinvestments(c)otherfixed
		assets
1.10
	Loans to other entities
1.111.12	Loans repaid by other entitiesOther (provide details if material)

+ See chapter 19 for defined terms.

1.13	Totaloperatingandinvestingcashflows(brought forward)	(2,715)	(14,616)
1.141.15	Cash flows related to financing activitiesProceeds from issues of shares, options, etc.Proceeds from sale of forfeited shares	4,132-	4,592-
1.16	Proceeds from borrowings	-	40
1.171.18	Repayment of borrowingsDividends paid	(2)-	(7)-
1.19	Other (Share issue expenses)	(274)	(280)
	Net financing cash flows	3,856	4,345
	Net increase (decrease) in cash held	1,141	(10,271)
1.20	Cash at beginning of quarter/year to date	1,578	13,002
1.21	Exchange rate adjustments to item 1.20	(2)	(14)
1.22	Cash at end of quarter	2,717	2,717

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	144
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.

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

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

+ See chapter 19 for defined terms.

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	-	-
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

	Total	1,004
4.4	Administration Costs	443
4.3	Production	-
4.2	Development	-
4.1	Exploration outflowJoint Venture contributionsNet Outflow	2,813(2,252)561
		$A'000

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.	Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	2,540	1,400
5.2	Deposits at call	177	178
5.3	Bank overdraft
5.4	Other (provide details)
Total: cash at end of quarter (item 1.22)		2,717	1,578

Changes in interests in mining tenements

		Tenement reference	Nature of interest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenements relinquished,reduced or lapsed
6.2	Interests in miningtenements acquired orincreased

+ See chapter 19 for defined terms.

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	Issuepricepersecurity (see note3) (cents)	Amount paid up persecurity (see note 3)(cents)
7.1	Preference+securities(description)
7.2	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks,redemptions
7.3	+Ordinarysecurities	111,711,583	111,711,583	Fully Paid	Fully Paid
7.4	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks	14,003,9103,214,000	14,003,9103,214,000	Fully PaidFully Paid	Fully PaidFully Paid
7.5	+Convertibledebt securities(description)
7.6	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted

+ See chapter 19 for defined terms.

Appendix 5B Mining exploration entity quarterly report

7.7	Options		Exercise price	Expiry date
	(description and	200,000	$0.32	21/05/2011
	conversion	200,000	$0.37	21/05/2011
	factor)	650,000	$0.32	30/04/2012
		750,000	$0.37	30/04/2013
		100,000	$0.53	1/01/2012
		40,000	$0.91	4/03/2012
		40,000	$0.90	31/05/2012
		400,000	$0.90	31/05/2012
		200,000	$0.97	25/06/2012
		20,000	$0.91	21/03/2012
		215,000	Various	Various
		350,000	$0.42	27/11/2013
		75,000	$0.50	30/06/2014
		1,000,000	$0.50	23/12/2014
		300,000	$0.53	3/01/2015
		75,000	$0.38	19/04/2015
		3,100,000	$0.24	4/01/2015
		500,000	$0.29	4/01/2015
7.8	Issued during	75,000	$0.38	19/04/2015
	quarter	3,100,000	$0.24	4/01/2015
		500,000	$0.29	4/01/2015
7.9	Exercised duringquarter
7.10	Expired duringquarter
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 give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 30th June 2010

Print name: DONALD STEPHENS (Company secretary)

+ See chapter 19 for defined terms.

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.

== == == == ==

+ See chapter 19 for defined terms.