credibility?

In April when the convertible bonds were raised there was an ASX release of "Company Insight"

QUOTE
Parent company to avoid the need to raise additional funds over next 2-3 years.
ENDQUOTE

Note the clever words "Parent Company".....

But further in

QUOTE
We can now just concentrate on adding value to the assets by maturing them operationally and financially. Also when we’re negotiating with joint venture partners on UCG or shale oil projects, we’ll be coming to the discussions with a stronger balance sheet, and that should ensure that we can achieve the best terms possible.
ENDQUOTE

I guess it just wasnt strong enough?

Then this

QUOTE
The main reason, which I alluded to before, was that we believe the US$200 (to US$250) million raised is sufficient to ensure the Company is cashed up to achieve our planned growth over the next two to three years. We didn’t want to come back to the market every year or so.
ENDQUOTE

So six months later he wants to go to SGX and do a big cap raise issuing new shares....??

I dont know if PB thinks credibility is important but my doc is going to be worried about my blood pressure with the number of grains of salt I'm going to have to take with the flurry of LNC announcements.

Then it goes on to say

QUOTE
we may wish to fast track the sub-salt oil drilling project in Texas, or the CO2 Enhanced Oil Recovery (EOR) business in Wyoming, or the various joint ventures on our UCG projects, to name a few.
ENDQUOTE

These sound like good projects that will generate cash revenue.

I havent seen any announcement on fast tracking these projects but we have seen the proposition of new capital being issued in Singapore.

Its almost as if we should see LNC ask ASX to remove the company insight from April because 6 months later it looks like a load of ....

WTF is the plan?