from advfn,uk tread,any view?

from a poster in uk:pretenders - 3 Jan'10 - 00:16 - 1 of 7


Bring it own, I have an email from a director of the company who provided me with an update on Smith 1, and cap raising.

Cap Raising

The next placement will form in two tranches;

i)Placement of 2 - 3 mil AUD.
ii) An entitlement offer of 1:4 at 3p. The offer is open to UK holders (this should be confirmed tomorrow night).

Smith 1

i) My broker stands by his claim of 2000bbopd

This is boe (condensate / liquid / oil). I am not an oil expert, thus I can only go by what I've been told.

ii) I was also told that the Smith 1 well cleaning up well with improved gas flows reported, it appears the well is now consistently reaching daily flow rates >3mcf.