rrdickson,
AUT is cap-raising as it increased it's oil reserves by 50%, as announced on friday afternoon (after the market closed), due to a very significant purchase of land.
It acquired 5,100 acres of land in the Sugarkane Field of the Eagleford area, for US$120 million. Quote from AUT:
"The acquisition and future development drilling costs are expected to be funded from existing cash reserves and an equity placementy of new ordinary shares and special warrants".
Hence the cap-raising.
Disclaimer: I hold AUT
Cheers.
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