Ann: L20/50 Permit Drilling 2010 , page-24

rbgould2008/others: Agree with you, rbgould2008, that the prudent thing to do for SUR is to raise cap to remain cashed up for some (i.e. not just only the first one) of the forthcoming drills in Thailand.
I just hope that this time around the long-term loyal shareholder will be able to partake and not just the so-called "sophisticated investors"....?!
I could foresee something of a mix along the lines of:
To underwriters/sophisticated investors 16.0 mio new shares at 0.07 (and any shortfall of the offering to existing shareholders)
To existing shareholders: For every 10 SUR shares held, 1 new share at 0.07
(= if total take-up approx. 34.0 mio. new shares).
So, together a total of 50.0 mio. new shares at 0.07, bringing in a gross of A$ 3.5 mio.
This, together with the existing funds should see SUR through for a while.
All outlined here PURELY of speculative nature.
Comments welcome.
wasa
P.S. Or the whole same scenario but at 0.06 would bring-in a gross of A$ 3.0. Naturally, it would be better if the could raise funds at as high a price-level as possible.