I continue to like the strategy. The increase in working interest would have cost a bit and had to come from existing cash holdings. Hence the company is raising additional funds to put towards exploration. Also if you look at it from managements point of view if they were looking to increase the interest in Allen Dome Southern flank why would they announce the flow rates before they had signed the deal for an increased holding.
I think its great strategy. Line the ducks up, increase your holding and then announce flow rates.
ann out, page-30
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