Magic rabbit, page-7

Hi Broosta

You're correct in stating that Carl hasn't necessarily underwritten the issue with person funds. I'll be interested to see how this plays out. Obviously it only occurs if a shortfall happens, which I expect will.

You've stated in a previous post that you wouldn't take up the rights - but as a non-holder you're not entitled to anyway. So your intention is irrelevant based on this. Happy to hear your response on this.

I know this is not without risk. But it also has considerable upside. The NSW drilling results released last week indication potential at that project. CMP not dead, and Madagascar looks very promising. Funding issues - yes, but if one of these projects comes off we are looking at a decent pay day.

Agree with you that macro issues aren't helping, but onshore drilling for conventional oil is the cheapest form of production so might not be affected too much.

Time will tell

Cheers

Doyle