I think this is a reasonable result, not fantastic but good...

I think this is a reasonable result, not fantastic but good enough considering the economic environment. If agreements can be reached with Saudi early in the new year then they will look to capitalise on the positive momentum and a higher SP and be tempted to do another raise.

Looking at the lower take up of existing shareholders I am hypothesising that those that did chip in are more likely long term holders and far less likely to sell off their shares to keep their oppies like the sophs have for the most part. Now we have a solid base of long term holders on the registry, this is good, but those long termers are not likely going to drive the price up in the short term (as they've spent their cash in the raise), we need new money to do that and that will only happen with the announcement of an agreement.