News: OBL Oil Basins announces 9-For-5 pro-rata renounceable rights issue, page-2

Well, a rights issue to raise $1.55m. Just over half of which will be used for exploration.

I am not sure whether this is because Christmas is coming up but this stock has been such a turkey that even the additional stapled options make this a poor deal. 9 for 5 too. It is not exactly limiting.

Since this was consolidated we have seen precious little to tell us there is any real future for this company. The Victorian moratorium of gas exploration doesn't help either.

Would be interested to hear from any who thinks this is good value.