Three things off the top of my head BASE one there is no guarantee of success with Bellatrix which will have a bearing on the share price.
Two , there is no guarantee there won't be drilling delays with the current well and Bellatrix , currently we have several days up our sleeve and three grab money when you can there is no guarantee with world events..
I'm working on the assumption there will be a CR after SNE 3 and before BEL 1 for the above reasons but there is absolutely no guarantee it will play out that way...
Which ever way you look at it we will need more cash sometime in the future and if it adds more value it's a good thing...
Cheers Whisky
CN Q&A, page-107
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