Ann: Rights issue- letter to ineligible shareholders-OIL.AX, page-7

these are good points and the point about there being no option for shareholders to apply for more shares, as someone - danny? pointed out, is a good point to consider. it does seem there is some confidence there.

my thinking is this:

I'm not really convinced they will be able to get to the booming sales we are all hoping for (of course they may, I'm just saying I'm not convinced). but I WAS convinced they were saying the right things to be able to spruik the company and the story to investors/the market. Which I think would see the sp increase a great deal as it is a compelling story if you forget the fact that the sales have not yet materialised after many years of trying. So I was going to hold and possibly buy more on the likelihood the sp would go up as people got interested. however, I am now not convinced the management can/will do that. Yes they have done a GREAT job breathing some life back in to the company and i am grateful that my shares are not going to be worth $0. However, consider this: they came on board telling us that shareholders have been poorly treated and that communications would be improved. Then they ask for money and provide no update whatsoever on when sales will be achieved for the zeiss product or any information about the zeiss product, no timeline, no status update, nothing; zeiss product is the big one.

so now I am left thinking they will keep me in the dark like the previous lot and that means they probably won't pay proper attention to generating the hype that might see the share price increase dramatically in the short term.

at present I won't take up my entitlement and I will probably sell some of my shares when the suspension is lifted. Yes I might be being a bit gunshy but for me the new management have fallen at the first hurdle. I think the years of not enough information has left a scar on me! I will hold a few though as I am emotionally invested and I want to want the company to succeed and reward all you guys and girls.