Maybe I am used of investing in penny dreadfuls, but when a...

Maybe I am used of investing in penny dreadfuls, but when a company raises money to invest in high-return production wells (in this case, they are already drilled), I am a happy camper.

Some people are reacting to this CR as though it were your typical penny dreadful doing a capital raising at bargain basement prices just to keep the lights on and pay the wages (we've all been involved in these I'm sure).

And because we are essentially exchanging debt-for-equity to fund a high-return asset, I am not actually expecting the usual post-CR sell off (as per Slyvester's post) because, again, this is not your usual penny dreadful distressed CR. But again, I may be wrong.

Sure, we wish we were trading at closer to fair value (~60 cents) and this CR is unexpected and annoying, but the sheer fact that CE1 can tap markets on short notice for $20 million (hopefully they get the full amount), demonstrates how far we've come.

And an aside, as Monark said, thank god there were no oppies included as free oppies are always a sign of desperation, and you only need to look at companies like BRK and TPD to see how a overhang of cheap options can straight-jacket any share price appreciation.

And on a final note, just want to say this thread has remained pretty civil and constructive despite some vigorous opinions being shared, so props to everyone.