Ann: Equity raising to finance Sangomar Phase 1 Presentation, page-26

joking yes but what happens if they find a large reserve next door ?? and thats the fun of oil - but you better know what you doing because look at the trail of oil explorers who didnt find any oil or no ability to raise funds.

55% dilution - ok not great by any means but if you were in 5 dys ago presumably one had a rough idea of what it was worth taking financing into account and perhaps an upside case if some things fall their way.

So even if you think 12c thats 3x isnt it, but again timeframe and opportunity cost is important here. I just think its funny that people didnt think any dilution was going to happen or maybe only 10% - but one has to think long term or buy in 2022.

if the price didnt rise upto 13c because of samo prospects then no one would be saying anything negative as it would just be going thru the lifecycle of exploration to production - they of course could have just sold the field and moved on but that decsion was taken long ago

its a rollacoaster of a ride