Ann: Hawkley to raise up to $18 million , page-10

^ Then here's my attempt at translation:

We're going to give hartley's approx 20% of the company for 37cps.
Then we're going to spend it on a diverse shopping list.
We had previously said that free cashflow was going to fund the shopping list, but now we have added "new gas plant" and "third well" to the list.

Third well = good. Gas plant; fair enough, if you're processing gas from 3 wells.

So, the question you really have to ask yourself is: would you have sold your shares at 37cps, when they were apparently supposed to be producing free cashflow of ~10cps this year?

I wouldn't have. Not even close.

Not happy, management. Stupidly discounted CRs = not cool.