WGO (ASX) Ann: Non-Renounceable Entitlement Offer Document

Originally posted by TJ1988 ↑

All this speculation and negativity towards DC, I just had a thought. What if he really is trying his best to get this project over the line. What if there is no behind the scene deals made to short cut Petrel and it’s share holders. What if we did all exercise our rights issue, raise the funds needed and the project struck a massive oil deposit and turned into something like Sirius resources. What if this is the lowest it will be before the massive find. What if this company does not go under and is a success.

After all this I will be taking up the full amount I am entitled to. I will support the company till the bitter or sweet end. In taking this up I know I am not only helping myself but attempting to help other holders to keep the company going, and hoping DC takes the Australian way and does right by us.

I would ask everyone here to take up the full offer to help not only themsefs but other holders too, but I understand everyone has their own point of view on the situation at hand, and I am hoping before it’s too late DC brings out some good news for us here and, like before, makes the raising of funds an over subscribed success!

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Mate, I guarantee no existing shareholders have faith in DC anymore. Even in the announcement chairman doesn’t even sound convincing we are going to come through. There will be no more good news coming. Unless if and if F$&@ing DC can convince the driller to drill for 3 more days and show us sincerely it can be done with new equipments in place even if we have hit fault. If they can drill for another 3 days without incurring any problems then I’m sure all of us will give them the last chance with our hard earned money. Having said that knowing they have spent more than $1.5m in the last 12 months on admin and salaries, there won’t be enough money left for drilling well2.
Half of $4.5m for paying creditors and driller past fees. $1.5m for admin and salaries. That leaves only $750k for drilling. F$&@ is this a joke. How can they get to anywhere with so little set aside for the drilling. The more I think about it the more this is a scam. I think they have probable planned a back door to sell the assets to themselves. I don’t see any urgency care from management nor any working solution. It makes me wonder if they have already bailed themselves out. The whole bunch of these F!&@n leeches.