well, I am a cynic these days on oil and gas companies. My bet is that mgmt will not be able to help themselves...they are going to look at this surge of new holders, and an sp price double their last raising, some good press in a national paper, and knowing the flow rate info is still to come and has a decent chance of being good, my bet is that they will do a raising. MEO did exactly this...when the punters were on board and before the motherlode hole that was a near dead cert was drilled they threw in a 30M cap raising. And some would say fair enough these companies have to get their cash when they can. It might be painless though (institutional investors)and of course it may alleviate concern of where the cash will come from for (a little bit of)followup drilling. Anyway, that's my bet.
ABL Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
