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Yep.
You get 300 mins to last you for 30 days. That means 10 minutes per day. O2 will give you 300 minutes every month on the 1st (the first installment being the first of April).
However, they have given you 3 days allowance (10 * 3) for the 3 days before this just so you can use your phone before the 1st of April 
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Download the app for your phone and it will show you all your remaining allowances. You might have to wait a few days though for your account to be set up.
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That just means your account billing date is the 1st April and that's when you get your fullallowance. So your first bill will be for the first couple of days usage plus your first months tariff in advance. Payment date is always 14 days after the billing date which would be the 15th April.
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It'd because you only have the last few days of the months allowance. You will get full quota from April 1st
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Your first bill will be £11 plus the couple of days usage so around £12 odd and will be taken by direct debit on the 15th if you have set one up by giving O2 your bank details.
