Ann: Rights Issue Shortfall Notice, page-53

Barnes don’t dignify morons with your time. I’m doing it now however somewhat so call me a hypocrite.

What CEO would take this role on? There’s not even any cash to pay their salaries. Get real.

Time is running out on this, unless DC pulls something out fast, and does something special. His wife would tell you he’s not up to it. Personally, with 250k odd cash, nearly 1.7 million in creditors, and a raise of around 250k now, they are insolvent. Who will even be paying the stand by costs on the rig?

I will give DC this he is so smooth. He’s given a 2 per cent equity stake to a driller, to keep them on side. 2 per cent of nothing. He played everyone here. He got his 400k salary to the end. In his devious mind, he’ll have it all worked out already.... be it dilution, asset sale etc. he’s sharper than all of us.

Often with these things control is taken on market by buying a larger portion of shares. Perhaps this could occur if the price really collapses. The smart money dumped today.
How can it even last to an AGM?

It might be severely diluted as somewhat mentioned just to keep it going... with us all being shafted.

PRL was the last dog share I’ve purchased, years back. As I’ve said on this forum, people need to be able to determine the worth of a business from its profitability and valuation metrics. It’s simple mathematics. Understand the findamentals, do your own research, never listen to share tips without doing your own research, etc. Warren Buffett doesn’t invest in thing he doesn’t understand. It’s so simple. How many of us are geologists or understand oil exploration? There was no revenue.
I learnt a big lesson on this share. I lost most of my capital years ago getting in at over 0.20.
I learnt a valuable lesson I will take now through my investing life.

I avoid all businesses that aren’t profitable, and look for growth in revenue and dividends. It’s pretty simple.