comparison with other oilers, page-10

If we get to a $1B MC expect a fair bit of dilution along the way.
Will need to raise a fair bit of capex to get it to the income producing point.
Say in round figures, for a hypothetical example
Now have 3B shares at 10c, $300M
Shares get to 15c on announcement of appraisal, issue 500M to raise $75M for a heap of appraisal wells,
If they derisk things a bit might get to 20c, MC now $700M, could well do a placement of $300M, 1.5B shares at 20c to get the production capex rolling, then we're at $1B MC with a sp of 20c, not 30c.