When a company requests a lengthy extension on their notes with...

When a company requests a lengthy extension on their notes with 3x better conversion rates,the same interest rates,and a significantly larger capacity to issue notes.Knowing their largest noteholder is currently holding better than 75% of the existing notes.

Then they announce a capital raising,you know the share price is 46.5c,then a new share issue is not going to be how the capital is raised.

The company,dependant on future success, has bought themselves time,to either redeem the notes at $2 or let them convert to shares.

As a recent report on the companies website states,I believe they gearing up to purchase another large producing asset.

By the way,I havent spoken to any representative of the company since September 2012 at the good oil conference in Fremantle.

I have been involved in the sharemarket as my full time occupation for over 4 years now.So I have a lot of time to do plenty of research.

All publicly available information.

All the best.