issue macq bank, page-27

it's possible that the reason the macq raising was done before all the juicy announcements have come out is to sure up and lock away a favourable review decision. without the placement, they cannot now guarantee to the review commitee that the options would be exercised hence have enough money to continue aggressive drilling campaign. different story now with macquarie on board. when the DRC review first reared its ugly head early in 2007, TGS raised 17.5 million at 40c with Haywood securities. just my thoughts.