autosimei think that the exploration will be funded from...

autosime

i think that the exploration will be funded from cashflow, the raising allows the Co to lower debt without biting into the cashflow and exploration budget.

I think the main issue here is that the debt repayments are crippling the companies ability to grow via exploration and development drilling

AMU like all oilers is suffering from lower commodity prices
To concentrate on debt repayment from cashflow leaves the Co little funds to drill leading to 0 growth, declining reserves and as a result lower asset values.

I think it is crucial to pay down debt as quickly as possible to reduce the burden on exploration budget. If the company halts exploration in order to service debt it will be standing still or worse sliding backwards (and im not talking about the sp which is only one measure of a companies worth). How is that going to see the sp rise ?

If you thought AMU was boring now, see what it looks like with no drilling.

Buybacks seemed like a good idea at the time but clearly they just didnt work. With hindsight i would have rather seen that money go on the debt.

CVC isnt offering any bright ideas imo they are simply saying go back to what you were doing. Well guess what... that wasnt working. And they will no doubt want board representation to oversee this brilliant strategy ??