Nice get Picko99 it does contain a typo Spudded 19-10-10 this should be the 9th but Drillers hey. I don't know why they would do a cap raising yet, we have enough cash in hand to get the seismic done, by this time Falcon/Origin will have announced results - Our share price will be either through the roof at which time we can raise capital to say we are going to drill the same area. (The higher the share price the less dilution) If Falcon/Origin are not successful then no point in drilling and we will be back to the twenties (hopefully unlikely)
Think of it this way a Cap Raising is a good thing, if we drill ourselves we still have 100% - A farm in and we will sell off 50,60, 70% Can probably drill, frack and test one for 15-20mill
If we sell the US assets pay back the debt we could have enough to go it alone or we can keep a bigger slice.
Good Luck to all And Pecko if you can keep those drill reports coming it would be appreciated.
EEG Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
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