bp a player, page-15

augusta are you guessing or have you done the maths, if you have done the maths how much are you proposing each company needs to raise , and on what cash burn rates are you basing this on.

I have posted in one of the AUT threads an email from AUT s MD where he specifically states in response to me asking him about how he intends to finance 2010, that they have structured themselves to avoid cap raising and that any unexpected cap raising would be minimal. I have owned and will own both companies. But right now AZZ will definitely need a much bigger cap raising then AUT to proceed to 10 wells. AUT's are free carried, The long horn and Ipnm ones are higher NRI's for AUT. Longhorn is in the liquid zone and 3 wells ther are more then likely imo to be high liquids.

Both are fantastic companies, but given one has an mcap of approx 70m or less and the other is 200m both with 10 wells at end of 2010. AUT has no need for anything but incidental cpa raising or even short term loan. it is indeed a no brainer at current prices. But imo you have it back to fornt.