Capital Raising, page-59

Understood, but the q which is not posed in your post or others is that the raising after a successful well is not a foregone conclusion. I would take the dilution anyday knowing our survival is a done deal with success. If anyone hear belives that we will have people jumping over us to hand us money on a weak balance sheet is naïve. The fact will be is that FAR will need them more than the funders need us. I have seen this play out many times and when you have JV partners who may want more on success, does not become a squeeze to put it politely, its more likely very bad planning.
I understand the logic of fellow posters for higher SP CR but the risks involved are massive. Our Chairman didn't make the comment because of dilution IMHO, he made it because he knows what could occur. A bad well stupidly enough would get them off the hook, I know they don't want that but to put it simply I reckon if the money was available FAR would take it. Its as simple as that in my book.
I also think the BOD of FAR would know there would be an instant spike in SP even with a CR at lower prices than today. ALL IMHO.
Why else would the two heaveyweights have been hired, it wasn't to read the results, it was to get credibility and money from those with it! If it was all about a successful appraisal then BP and others could do it without the cost. I personally think FAR BOD is feeling more pressure about the money piece than any appraisal. All HC are in favour of latter.