hi ron
you are correct about the rights take up.
as for the dilution, i believe the maths are still in our favour, so long as we get a hit (nothing new there).
what makes them more attractive than before is the fact that the anticipated selldown has not happened.
if the rights are tradeable in october, we have a whole month of announcements to help fortify the SP, so a drop below 3.5-4c may never happen, just as i first suggested.
this means that the oppies remain the same gamble as they were before, only with the promise of oil now close to confirmed (rights uptake pending).
options, page-6
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