Agree re: dilution effectively raising 1:4 at 3.8c whilst saying that they are disappointed that the assets are so undervalued.
The current management just need to execute ie put more wells on and show the unit economics of doing so. Raising now is simply not in current shareholder's interests. The management seem to have got used to making big plans with other people's money and think they can continue to do so, with no regard for current shareholders.
It is in shareholder's interests for the company to be taken over or the current management need to be sacked and replaced with a right sized board who are correctly incentivised.
Remember this at the AGM and vote them out
Ann: Trading Halt, page-103
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