Ann: Trading Halt, page-52

Looks to be a very smart move by the company.

Seems DP is essentially bringing forward the cash from some some of the option conversions ( being a partial underwrite) from June to now. Will allow the drilling of Flames forward from July to much earlier than expected. This will bring forward the completion of the HBP drill program, bring forward the significant cashflow that will be generated by having 3 wells producing at a time of very high oil/ gas / NGL prices  and also  increasing the NPV of Flames.

@TheProfessional describes it as a bridging loan which will be paid back when the options are converted in June and secured by the  part underwriting of the options by CPS.... so the way I read it, if most of the options are exercised by current holders, there won't be a significant CPS underwrite... and best of all, no extra dilution .

This is a huge positive move IMO.. looking forward to seeing the detail next week and hopefully a juicy announcement/ presentation .

Very happy brookie this morning.

Cheers

Dan