I agree one million is a paltry sum to raise and if confidence...

I agree one million is a paltry sum to raise and if confidence was high at Board level that good news of some sort was imminent, why not wait and raise at higher prices. BPH responded to a speeding ticket very recently so we have to assume no material information of a market sensitive nature was to hand both then and pre raise. The speeding ticket response was predictable and frankly, at least in my corner remains the very reason I am a buy sentiment. I have never taken a position in a stock more beholden to political posturing and our incumbent government has certainly backed itself into a corner thinking political expediency was to shout from the rafters when in opposition "me too" after Scomo thought he could shore up seats canning PEP11 with total disregard for well established law surrounding procedural fairness.

Some speculate the raise was because there is need to indicate Advent is, indirectly at least, sufficiently capitalised to get the tick from the Joint Authority. I tend to side with those that speculate that if NOPTA had already given a thumbs down it's an easy no from the Commonwealth long ago without any political backlash. I doubt that box was a problem and am guessing the cap raise wasn't a show of strength on the cash flow front. Quarterly's have been released by all related parties and I didn't spot any problems there. I might have been entitled to participate in the raise, but never got a look in and suspect the stock had a home long before I got around to sending an email to Oakley Capital.

Many on this forum comment as if the reserve is proven, which of course it isn't, but you don't need to be wildly well read to understand gas is a resource our country needs to pull its finger out on and PEP11 "potentially" offers a terrific get out of jail card for the country in the South East if exploration results yield what everyone is hopping for. This is certainly a confounding play and I just can't call it, but for me it's a no brainer the government should let them have a look. King to Husic is a plus for me and the cap raise I see as a hedge against a possible knock back to keep the fire burning for a company that actually does have more than one play at present. If this company was a one trick pony I doubt I would have gone in as hard. If we get the nod happy to join you LTH's and bring the Billecart Salmon to supplement GB's contribution.

Fingers crossed.