one way to look at the bg sale, page-15

Agree with scarabeo,

I would have much preferred a rights issue to existing shareholders (at a fair discount but with on market trading of the rights to ensure that all current supporters benefited regardless of their ability to buy more) FIRST, leaving more time to properly sell down an acreage equity component - possibly after confirmation of tiof size, and/or after announcement of this year's program (including more details on the prospects to be drilled).

To some extent I think they are confirming that they are still 'cowboys from the west', albeit richer ones now compared with a few years ago - unless they can convincingly explain the rationale of the path taken.

Notwithstanding this, I am and will remain a long term holder. The potential, despite some of management's efforts, is just too good to forego (dangerous sentiment, I know).

Cheers
OG