Ann: Capital Raising , page-8

I dont understand the rationale behind this cap raising. Why does a cash positive co. with a current plan in place, slowly building capital need to raise a fairly small amount?
There is new revenue to flow from snapper and we have more planned drilling in place in the immediate and coming months.
You would think by the way TEX sold itself during the BLAZE cash grab that we were in a very solid position.
Not so!
Well a slap in the face this morning with a 20% drop in our shares.
I'd like to know more about how, when and where this money will be spent. Tony D should know......Tony?