Capital Raising, page-60

I'm not sure a company with no debt and 10% of its market cap in cash could be called under stress. As mandurah has posted the initial programme should be funded with current cash, assuming no cost blow outs but based on the last cost blow out we are paying for that about 8 months later, I'm not suggesting a raise at the end of the 3 well programme obviously, but for the life of me I can't see any reason to panic and raise before the first well. Raising on good news is what the management have said and I expect that to be the case. The more they can prove up the easier the money will be to find. AIMO DB