spp, page-56

Rang the company this morning as requested,spoke to a chap named Colin who I think is the company secretary.While he cant discuss specifics about where the SP is atm,the SPP has been done at a 13% discount and the money needed has been raised,which has bought us to where we are now.SPP offers for shareholders have been mailed out today.The offer will close on the 1st Aug.I guess its a personal decision to take it up or not,the company simply wanted to include ordinary shareholders in the cheap shares on offer.The drivers of the SP in the short term will be; Spudding of N.E. Waller as soon as a rig has been obtained,Spudding of Lake Long in August and testing of Stokes Bay in August.Wish I had a crystal ball to tell where this will take the SP in the next couple of weeks.Asked about progress of Senegal,interest has been good,but the sheer volume of data is a time comsuming process.Cheers