Interesting to see that EME raised #5m on Friday i.e $12.5m at a...

Interesting to see that EME raised #5m on Friday i.e $12.5m at a significant discount to their SP on the day.

One thing that will be holding back the SP of EKA is that there is little doubt that they will also be needing to do a placing pretty soon.

The well costs for SL alone are going to be very expensive and EKA certainly do not have enough reserves to finance these.

I hold EME in the UK and feel that over 50% of ehat they raised would have been for SL. ADI have the backing of ARQ so that leaves EKA & AUT at this stage with not enough cash to finance the drilling at SL, should SL be commercial, which IMO it will be very significantly!

Will they be able to raise the cash or could they sell down their stakes in SL to raise it? Interesting times ahead!

Best of luck all.

regards