doggydidit,No idea when they will raise more cash, but I would...

doggydidit,

No idea when they will raise more cash, but I would expect them to hold off as long as possible to at least get some of my list of news items out into the market. As each and everyone one of them is likely to push up the share price.

I also think they want the next cash raising to be at a price above the last one, ie above $0.75, to show they added value from the last cash raise.

How long before the next big move up??

Well the big one will be when they get domestic oil sales going I think.

However remember the fact that 300,000 shares makes the top 20 holdings. So there are very very few institutional investors holding shares at the moment, it would only take 1 or 2 of them trying to get 500,000+ shares each to move the price quite considerably, as I don't think there are that many shareholders who want out at the current share price.

So to get a bundle of just 500,000 shares is likely to need quite a few sellers to fill it.

On the other hand that maybe a factor holding some institutional investors back from buying in right now, simply because they know it will be hard for them to get a sizeable stake in the company without pushing the price a lot higher.

They all know a capital raise is coming at some point in the next 4 months and are maybe waiting until then to try and get involved, but that doesn't mean they will all get in, or in the size that they want.

As soon as they are able to sell oil domestically I can only see they share price going one way and that news could come any day now.

You've seen all the broker reports and they are talking of a share price 4 or 5 times the current price and that was before the success at J-53 or oil back above $120.

LOTM