capital raising, page-2

Hi Recko,

IMO DYOR cap raising will most likely be in Late Jan. Preferably after GGPs tied in well 3 and 4 and hopefully 1 horizontal well if succesful to lock in sales. This will make funding discussions on favorable terms easier to negotiate.

Personally I DO NOT want any further share dilution via equityfunding if not at a premium. Debt Funding is the best outcome but harder to get. Say 9 million at 8% pa plus principal..

Ideally I would want a share consolidation as well with a 1 in 10 ratio.