Ann: Successful Capital Raising, page-19

As per AU comment in cap raise announcement, they had to raise now, in order to drill another well this yr and be first to put gas into the existing pipeline before the rest, thereby accelerating production and cash flow by at least a year.

The alternative would have been no new news flow after Carp-2H until mid-next year, and a further 12 month wait to production license, gas sales agreement and therefore cash flow.

A bit tough to blame them for broader market conditions. The whole market is way down.

If they keep delivering we’ll all be cheering the SP higher in no time.