Ann: Capital Raising of $5.5m to support Cabora Bassa Development, page-66

I expect Scott would have had no problems with funds for his rights. Regardless, he wouldn't make a decision on rights v. spp based on his personal circumstances. The "problem" with rights issues is that they are more time consuming and costly than SPPs. That is why most companies do SPPs these days if they do any shareholder issues at all. By the sound of the comments made re long lead items for the second well, it doesn't sound as if time was on Scott's side for this raising. So while I would have preferred rights, I can understand why they chose spp.