04db0d71-450a-4f39-9370-77c1ca4f2eff.pdf


21st January 2016


QUARTERLY ACTIVITES AND CASH FLOW REPORT PERIOD ENDED 31st DECEMBER 2015


CONTACTS: ISSUED CAPITAL:

Collin Vost 2,225,337,344 Ordinary Shares

Telephone: 08 6436 2350


Australian Securities Directors: Exchange (ASX)

Collin Vost (Executive Chairman) Code: BKP

Justin Vost (Non Executive) (Ordinary Fully Paid Shares) Ray Chang (Non-Executive - Chinese Division)


Company Secretaries: Cash (31st December 2015)

Tim Clark $341,000

John Greeve


DECEMBER 2015 QUARTERLY ACTIVITY REPORT


Baraka Energy & Resources Limited ("Baraka " or " the Company ") ( ASX: BKP) provides its quarterly activities report for the period ended 31st December 2015.

Baraka appointed experienced Lawyers and Tenement Administrators in the Northern Territory, as well as RISC , a world renowned Oil and Gas consulting firm, to assist in the renewal of both permits, EP127 and EP128 located in the Georgina Basin in the Northern Territory, under the sole ownership of Baraka as 100% Permit Holders.

Whilst Submissions have been made and the process continues in regards to EP127, Baraka elected to withdraw from renewing EP128 in January 2016 as announced, because of the expenditures required by the NT Department of Minerals and Energy. Baraka believed these to be excessive for the least prospective of the permits and intends to concentrate its efforts on EP127 on renewal.

Baraka and its previous exploration consultants believed that the western side of EP127, and in particular the Hagen Member, and Dulcie Syncline, held considerable potential for Conventional Oil & Gas, to the extent that at that time interest was expressed by a Canadian group wanting to pursue exploration of those areas. Discussions may be reinstated at a later date subject to the outcome of our renewal application.

In the meantime all expenditures have been met for 2015, and depending on the renewal terms and conditions, Baraka is not expected to commence any new expenditure until after the first quarter of 2016 when the permit is renewed and the wet season finishes

Baraka will initially work with RISC and others familiar with the Georgina Basin in reviewing all of the data collected from the previous work programs, pursue discussions with interested parties in regards to any farm in, and then resolve the work programs for 2016 and beyond.

Baraka has an R & D Tax Incentive application currently lodged awaiting approval. In the event that application is successful we would expect a cash injection sometime in the first quarter of 2016. Additional funds are also expected as a result of converting selected current assets to cash further adding to our cash reserves.

Baraka as at the 31st December 2015 had some $4.5m of cash and current assets, with only minimal debtors or commitments.

The board of Baraka continues to seek other opportunities, and has been assessing offers made to the company to participate in ventures, or consider cash injections simultaneously with asset acquisitions, but nothing to date has been offered that would be sufficiently advantageous to our shareholders based on our risk to reward guidelines, and or is sufficiently advanced or definitive.

Appendix 5B


The Appendix 5B for the quarter ended 31 December 2015 is attached.


Forward-Looking Statements


This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Baraka, including, without limitation, statements pertaining to management's future plans and operations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.

There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and Baraka does not assume any obligation to update or revise them to reflect new events or circumstances.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report




Appendix 5B


Rule 5.5


Mining exploration entity and oil and gas 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, 01/05/2013



Name of entity

Baraka Energy & Resources Limited


ABN

Quarter ended ("current quarter")

80 112 893 491

31 December 2015


Consolidated statement of cash flows



Cash flows related to operating activities

Current quarter

$A'000

Year to date (6 months)

$A'000

1.1

Receipts from product sales and related debtors

0

0

1.2

Payments for (a) exploration & evaluation

  1. development

  2. production

  3. administration

(22)

-

- (104)

(120)

-

- (255)

1.3

Dividends received

-

-

1.4

Interest and other items of a similar nature

received

2

8

1.5

Interest and other costs of finance paid

0

0

1.6

Income taxes paid

-

-

1.7

Other (provide details if material)

0

896


Net Operating Cash Flows


(124)


529


Cash flows related to investing activities


-


(523)

1.8

Payment for purchases of: (a) prospects

  1. equity investments

  2. other fixed assets

1.9

Proceeds from sale of: (a) prospects

  1. equity investments

  2. other fixed assets

-

-

1.10

Loans to other entities

(225)

1.11

Loans repaid by other entities

1.12

Other (provide details if material)


Net investing cash flows


(225)


(523)


+ See chapter 19 for defined terms.


01/05/2010 Appendix 5B Page 4

Baraka Energy & Resources Ltd. issued this content on 21 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 February 2016 07:17:14 UTC

Original Document: http://www.barakaenergy.com.au/pdfs/2016-02-05-071033160121_-_Quarterly_Activities_and_Cash_Flow_Report__DEC_2015.pdf