@turville - appreciate your enthusiasm but think you are backing the wrong horse here....big time. There has been some renewal but big puppet master still there. Also please do yourself a favour and check the background of the directors - you might find out some interesting & relevant facts.
Probably not much use continuing this discussion but let's just see how much is raised in this rights issue. I'd be incredibly surprised if they raised anywhere near their target.
No broker of any note is following/supporting these guys either so I suspect they had no option but to try to tap existing shareholders.
Time will tell....
News: OBL Oil Basins announces 9-For-5 pro-rata renounceable rights issue, page-11
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