PTR MINERALS LTD — Interim / Quarterly Report 2015

Jan 29, 2015

ASX Release

30 January 2015

ASX Code: PTR

ABN 17 106 806 884

Level 1, 169 Fullarton Road Dulwich SA 5065

T: +61 8 8274 5000 F: +61 8 8272 8141 W: www.petratherm.com.au/ E: admin@petratherm.com.au

PETRATHERM LIMITED ABN 17 106 806 884

Quarterly Activities Statement Q2 December 2014

Summary

• The company continues to preserve its cash reserves with limited expenditure on exploration activities
• New projects are being actively pursued that will lead to creating shareholder value

Review of Operations

Quarterly exploration and evaluation costs amounted to $2,000 relating to the Paralana project. There were no exploration activities undertaken on the Company's sole Tasmanian Oil & Gas tenement. The Company had ongoing administration costs of $115,000, primarily relating to compliance and office costs during the quarter. At the end of the reporting period the Company held $260,000 in cash.

The Company is continuing to explore ways of containing costs whilst reviewing new projects and recently moved into lower cost premises.

Yours faithfully

Terry Kallis Executive Director

MEDIA CONTACT: Terry Kallis Petratherm Limited 0419 810 153

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

PETRATHERM LTD

ABN Quarter ended ("current quarter")

17 106 806 884 31 December 2014

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter$A'000	Year to date (6months)$A'000
1.1	Receipts from product sales and relateddebtors	-	-
1.2	Payments for(a) exploration & evaluation(b) development	(2)-	(11)-
	(c) production(d) administration	-(115)	-(307)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar naturereceived	2	3
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Other (Joint Venture Repayments)	-	2
	Other ( R & D Tax Offset)	-	51
		(115)	(262)
	Net Operating Cash Flows
1.8	Cash flows related to investing activitiesPayment for purchases of: (a) prospects	-	-
	(b) equity investments
	(c) other fixed assets	-	(2)
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)	-	-
		-	(2)
	Net investing cash flows
1.13	Total operating and investing cash flows(carried forward)	(115)	(264)

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows(brought forward)	(115)	(264)
1.141.151.161.171.181.19	Cash flows related to financing activitiesProceeds from issues of shares, options, etc.Proceeds from sale of forfeited sharesProceeds from borrowingsRepayment of borrowingsDividends paidOther (share issue costs)	------	------
	Net financing cash flows	-	-
	Net increase (decrease) in cash held	(115)	(264)
1.20	Cash at beginning of quarter/year to date	375	524
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	260	260

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	28
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, wages and 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

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	Amount used
		$A'000	$A'000
3.1	Loan facilities	-	-
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	3
4.2	Development	-
4.3	Production	-
4.4	Administration	76
	Total	79

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (asshown 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	130	145
5.2	Deposits at call	130	230
5.3	Bank overdraft	-	-
5.4	Other (provide details)	-	-
	Total: cash at end of quarter (item 1.22)	260	375

Changes in interests in mining tenements

		Tenementreference	Nature of interest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenements relinquished,reduced or lapsed		Refer to Appendix 1

+ See chapter 19 for defined terms.

6.2Interests in miningtenements acquired orincreased	Refer to Appendix 1
------------------------------------------------------------------	---------------------	--	--

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	Amount paid up per
				security (see	security (see note 3)
				note 3) (cents)	(cents)
7.1	Preference	-	-	-	-
	+securities
	(description)
7.2	Changes during
	quarter
	(a) Increases	-	-	-	-
	through issues
	(b) Decreases
	through returns	-	-	-	-
	of capital, buy
	backs,
	redemptions
7.3	+Ordinary	252,277,951	252,277,951	Fully Paid	Fully Paid
	securities
7.4	Changes during
	quarter	-	-	-	-
	(a) Increases
	through issues	-	-	-	-
	(b) Decreases
	through returns
	of capital, buybacks
7.5	+Convertible	-	-	-	-
	debt
	securities
	(description)
7.6	Changes during
	quarter
	(a) Increases
	through issues	-	-	-	-
	(b) Decreases
	through	-	-	-	-
	securities
	matured,
	converted

+ See chapter 19 for defined terms.

7.7	Options			Exercise price	Expiry date
	(description and
	conversion
	factor)
		300,000		$0.53	3/01/2015
		3,600,000		$0.24	4/01/2015
		250,000		$0.20	5/07/2015
		350,000		$0.20	5/07/2015
		1,100,000		$0.15	30/01/2016
		350,000		$0.14	8/01/2017
		500,000		$0.13	2/03/2017
7.8	Issued during	-		-	-
	quarter
7.9	Exercised	-		-	-
	during quarter
7.10	Expired during	350,000		$0.50	23/12/2014
	quarter	28,016,196		$0.03	2/11/2014
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 5).
• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 30th January 2015

(Company secretary)

Print name: Donald Stephens................................

+ 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 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting 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.

APPENDIX 1

ASX Additional Information

List of geothermal tenements

AUSTRALIA

Project	Tenement	Area (km2)	Registered holder/Applicant	Company interest
South Australia
Paralana	GEL 156	998	MNGI Pty Ltd	79%
	GEL 254	498	MNGI Pty Ltd	79%
Moolawatana	GEL 603	2,593	MNGI Pty Ltd	100%

SPAIN

Project	Tenement	Area (km2)	Registered holder/Applicant	Company interest
Tenerife
Garehagua 1	2053	98	Petratherm España SL	93.023%
Berolo 1	2054	90	Petratherm España SL	93.023%
Guayafanta	2052	98	Petratherm España SL	93.023%
Abeque	2057	98	Petratherm España SL	93.023%
Gran Canaria
Atidama	151	83	Petratherm España SL	93.023%
Madrid
Valdebebas	3454-010	11	Petratherm España SL	93.023%
Madrid-2016	3455-010	7	Petratherm España SL	93.023%
Geomadrid	3450-110	10	Petratherm España SL	93.023%
Quiñones	3459-010	13	Petratherm España SL	93.023%
El Capricho	3461-010	27	Petratherm España SL	93.023%
Longares	3460-010	33	Petratherm España SL	93.023%

List of petroleum tenements

AUSTRALIA

Project	Tenement	Area (km2)	Registered holder/Applicant	Company interest
Tasmania
Central Midlands	EL 3/2013	3,855	PetraGas Ltd	100%