Guys, if they get it away at 0.5c thst would be superb and very...

Guys, if they get it away at 0.5c thst would be superb and very bullish for the immediate future. However, unless someone has knocked on their door since the weekend this will be no higher than 0.4c imo.

As you know, these things usually take a week at least to arrange. Where was the sp a week ago? If you were offered stock on 7.12 what price would you be willing to pay? I'm hoping it's not at 0.3c.

What's just as important as the price is what the money is for, how dilutionary the issue is, and whether the stock goes into safe hands.

What I don't want to see is something wishy-washy about future prospects and working capital if it's below 0.5c. If it's at 0.3c it'd better be small and worth it in terms of the value it adds to the business.

I don't want to be left with the feeling that their mates got shares at pre result prices without bearing the drilling risk. In my book if you want the reward you have to bear the risk and if you cannot stomach that then you pay the new, higher price.

No doubt many have been offering $$$ now they have oil and perhaps a new oil field. The problem is that these newbys will want in at pre-drill prices. Unless MHL have a real corker of a use for the funds that makes us all smile then they have to tell them that the price just went up now we have oil.

With alot of recent placements going to scalpers there is a compelling case for having a short term escrow on the placed shares. I'm thinking only a couple of months if the discount is more than 10%, to ensure the placees don't dump the stock on market straight away.

Management's job is to look after existing shareholders and nobody else. Let's see whether they are up to it.

cosmos