MEL 0.00% 0.4¢ metgasco ltd

placement, page-37

  1. 6,609 Posts.
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    Could have bought at 18.5 the other day guys. Does anybody here for one second think that there is not a plan at foot here? This has obviously been lined up for a while. Let's see who the placement is to before we get too stroppy. I thought they might have done it at a premium myself, but in the end, 50 millions shares is a drop in the ocean compared to what can be done with the cash. The committed drilling campaign, multi laterals and the conventional well early in 2013 is my bet on this. This is not the company sacrificing itself, it's the company setting itself up. The price is disappointing, but the cash is needed.
 
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