Jamit01- capital raisings cost money in fees, so if they were going to raise for Puntland, it seems highly likely they'd have raised the money now rather than later (given mobilisation will have to be in February to meet the timescale, they'd have to be launching a second cap raising within a couple of weeks...makes no sense).
Also the next raising won't be as quick as this one. This raising proceeded with speed because the resolution to raise $10m was already approved at the last AGM. Next one will take longer as I believe they'll need to get approval from shareholders (albeit this is just a formality, but it still takes time- and time is a commodity we just don't have if these Puntland deadlines are to be met).
Yes, sure, it's good practice for a CEO to prevent too much dilution (something which PL could do with learning, lol), but AOI won't give a damn about dilution to RMP shareholders, they'll just want their money. And the fact the money hasn't been raised suggest AOI don't want their money yet, which suggest mobilisation is not planned to be soon, which in turn indicates the timescales won't be met.
Bigman22- you're arguing over basically $0.5m-$1m costs, which makes no difference to the core of my argument that RMP don't have enough funds. They need $15m for the first Puntland drill according to AOI last drilling quote in September, and they clearly don't have that.
Ifytwotums- because ultimately with Texas+Trinidad this play has limited downside providing you're willing to wait for the wells to get drilled and flow rates to be increase, effectively giving me a cheap shot at the big money if Georgia comes good. Puntland isn't the be-all-end-all of the company. Aside from Puntland (and the management) this company is reasonably sound.
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