rights issue massively undersubcribed, page-19

I am happy that the underwriters and their sub underwriters will pick up the shortfall and as they are not holders they will be looking to place those shares with clients or into the market, probably both, although they must be feeling secure if they turned down a direct request from a shareholder for additional shares.

Anyhow, they don't have the new shares yet so they can't sell them. I expect they will get their shares on the same timetable the rest of us will.

So if there is any selling it should commence on or after 8 June 01.

For those wanting to buy this could be the time.

Then it's on to the drilling risks and the general market stability or lack thereof.

Good luck guys.