is selling storm over, page-7

SBL,

If you were underwriting this issue to take the shortfall shares at 22c, would you want the share price to go up or down before the 13th of Oct? My money is on the price remaining subdued until 4.10pm est on the 13th Oct. Any updates on LT or anything else will likely come post this cut off. That should scare at least a few people out of taking up their rights.

Just my thoughts. The theoretical ex-rights price even on the 32c stock from the placement is about .298c, so buying this thing below 30c is a bargain.

I am also not expecting a big jump upon the news of successful commissioning at LT. WHilst not priced in completely, i think the market is sort of expecting it to finally happen, so wouldn't hope to see the SP higher than 35c on this news. Plenty of people will sell into any strength as they are sick and tired of this stock.

The big action will come (as so many before me have noted) with farmout of CRUX and ES. Followed by drilling of ES, followed by FID on Crux. Once we have these 3 key milestones, we are looking at a totally different stock. It is fair to think that we should land at least 2 out of 3, and, 2 out of 3 aint bad. 3 out of 3 and we are $2+.