Ann: Trading Halt, page-184

People still complaining about the cap raise at 23c but not thinking everything through clearly.

Imagine if there was a TH at 29c on Friday morning for a cap raise. The 29c is above the VWAP of all time intervals whether 5, 10 or 30 days. Everyone involved with a cap raise would be expecting a discount. I've seen 26c mentioned as the VWAP for the prior period to Friday. So if there had been just a 10% discount to VWAP the issue price of the cap raise would still be around the 23c level.

If people are really upset about all these cap raising discounts then do something about them for the future. Firstly you have to come up with a better system, then lobby politicians to change the laws. It will take time and a lot of effort, good luck.

If you think that writing a letter of complaint to ASX or ASIC is going to do anything constructive, then good luck.

Realistically though, if you don't like the way companies at this end of the market go about raising capital then just don't play in this end of the market.

Personally I'm looking forward to the resource statement then the company getting on with seismics, appraisal wells, more news on JAWS, then deals and sales of gas in the future.

From my perspective the outlook is good for Strike and people complaining about a cent or 2 here and there or institutions gaining a few more percent of the company cheaply are too stuck in the small stuff and are not looking at the big picture.