Guess it depends on the details of the "potential strategic...

Guess it depends on the details of the "potential strategic arrangement with a specialist global energy investment fund relating to the Western Surat Gas Project' - seems like a hugely positive development.
Raising at 31.5c is impressive, but it's still a 17% dilution (and doesn't look like retail will get a piece of it.) might open at 31.5c and keep going up. Put a buy in at 24c (17% discount on 28c) just in case, might pay 26c (17% discount on 31.5c) if needed.