Ann: Securities Placement Capacity Update, page-145

You assume 2 things.
1. A farm in will include the Eastern Leases. ATM they have not been rolled in to the SG 4571 lease.
2. That IF MK2 comes in that that would add a material value increase to those leases.
I think without a well drilled the value increase would be very subdued.
All seismic is a punt but if they want to drill out East they need the data to decide where.

No its not cheaper to raise cash.
Have you looked at how much the brokers have raped out of IVZ?
One SI on here had the temerity to say that raising money via SPP was expensive....at the time the brokers collected over a million from a placement.
We have no idea what Polaris have done with their shares. It may have been them selling. It also might have been them taking shares in kind because they have seen the 2D.....who knows.