Ann: Placement to Expand Daydream-2 Program, page-65

In the interests of trying to restore some of my sterling reputation as an honourable Wonker- and to be fair and balanced Steveo- I'll try:

Because he was approached, by 2 brokers (very quickly after we unexpectedly gushed conventional gas- which you'd obviously appreciate having- I'm sure, as an EXR shareholder with a vested interest in what the team are trying to do at Grandis, found very exciting given your study of the Taroom Trough CSIRO paper you stumped up $35 for)
He didn't seek the investment - it opportunistically came to him, from brokers knowing they could curry favour with their clients by buying into EXR at a bit of a current discount, with a wee 1/3 oppie sweetener thrown in.

Do you imagine the clients of the brokers just willingly parted ways with $6.5million of their monies because they are fools, easily swayed by the sweet-talk of a broker.....or do you think they just may be a wee tad savvy- and OK with the risk of gas exploration?
Do you also not think that said brokers (and participating clients) might envisage a positive return on that investment?....potentially of course.

His whole plan, with this and all the other assets- as you know given your extensive review of his video interviews- (so I'm not telling you anything new here) is to try hard to retain 100% asset ownership as long as possible as that gives us the best optionality going forward.
Something comes along that happens to assist potentially accelerating the value development of that asset (remembering that the original plan has now a potential interesting twist given gushing gas), out of the blue, and he pounces on it.

I think wire logs and preliminary data will be good....perhaps very good, and by association, I think the sp will react somewhat positively to it.
I'm prepared, given this market, for that reaction to be a bit ho-hum, not worthy of rocket ships and the like, but nevertheless, we go up a bit.

And as others have said, better to raise at 8,5c than (potentially) a higher sp.

I might of course end up with egg on my face- and I intend to dig myself an ever bigger hole ASAP by buying yet more EXR shares, so you may well need a few more eggs for my mug.

But I'm betting heavily we go pretty well, in time.