Ann: Reinstatement to Official Quotation , page-11

KB2,
Perhaps I could reply on behalf of 4938?
IMO it is you who needs to read the anns more closely!
From this latest ann on 3/4/09:

"The initial placement of A$5.2 million that completed on 27 March 2009 (Completed Placement).
􀂃 An additional placement at a price of 7 cents per share to raise A$5.1 million (Second Placement). The Second Placement will be made in two tranches. The first tranche of A$4.3 million will be placed to Otto�fs major shareholders Santo Holding AG and Molton Holdings
Ltd (Major Shareholders)"

So there's $4.3m from Santo and Molton at 7c per share, then later in the same ann:

"A pro�]rata non�]renounceable entitlement issue (Revised Entitlement Issue) to raise a maximum of approximately A$21.2 million at a price of 5 cents per share, which will be underwritten to the extent of A$15.7 million. Under the Revised Entitlement Issue, each shareholder eligible to participate will be offered three (3) new ordinary shares for every four (4) existing shares held at the record date of 20 April, 2009. An indicative Revised Capital
Raising timetable is attached to this release."

And then on page 2 under the heading Underwriting:

"The Major Shareholders have confirmed their
intention to take up their full entitlements under the Revised Entitlement Issue and to subunderwrite
a portion of any shortfall up to a maximum investment of A$4.3 million each."

There's another $4.3m each from Santo & Molton at 5c per share under the entitlement issue and sub-underwriting of.

That's $12.9m total from S&M.

btw I agree fully with your statement "interesting times ahead" for OEL but also believe as 4938 has often stated that quality assets will eventually prevail. I notice you have a LT Buy sentiment - you hoping to pick some up during these turbulent times?

I also agree we need to know more about the reasons for the JV lapse - this seems to have been not addressed sufficiently. A JV will come to fruition some time in the future as we all know oil is a declining commodity and it's for this reason i think this is a great time to buy and tuck these away for a few years.

$eeker