minimum number of shares reqd, page-11

See announcement 25/7 re SPP pricing for the reason SP is now weak - ie pricing is now being set for the SPP.


"The issue price of the SPP shares will now be the lesser of:
• $0.16 per share (the price previously announced to ASX); OR,
• a price calculated as a 20% discount to the volume weighted average price of Drillsearch shares on the ASX for the 5 Business Days prior to the Closing
Date (15 August, 2007)"


eg a 15c market price will get eligible shareholders a SPP pprice of 12c.


R/happy