Potential Breakout Alert, page-81

andy16 said: ↑I hate to say it but I agree with rolling on possible CR. It won't be major shareholder doing the manipulating. Just someone or entity with deep pockets who has inside info and know when to put the shorts on. Ie handbrake off (now), Short sell a heap just before cr and the inevitable discount. I've seen it happen too many times for it to be a coincidence. The company (therefore shareholders) gets to raise more cash at a higher rate, the entity makes some profit from their sells/buys. Everybody wins... CN has proven to be conservative with capital requirements ensuring we have our butts covered. I know she has stated the best time to raise would be after good results from the appraisal wells but IMO a small raise to give us some breathing room now whilst the oil price has rebounded would be prudent. I am a long term holder and really think we are onto something big here. I just hope we don't get gobbled up before our potential can be realised. IMO GLTA .

QUOTE="gridder, post: 15975634, member: 83824"]Why the conspiracy theories? Can't see deep pockets at play when trades are so light. We know we have around AUD $40M in the kitty and I see no reason why we will not do as CN has previously stated and complete some drilling and get some results first. This project has captured peoples attention and my feeling is we will continue to see a volatile but generally upwards trend in SP as we lead into rig mobilisation and spudding.[/QUOTE]


No conspiracy, just business as usual on the asx imo.

I am pleased to see the CR as I am by nature a conservative person. It would be great to get confirmation of what they expect to be able to cover with the amount raised - 6 wells and seismic?
After the initial rebalancing of the funny business I believe this CR will remove a lot of the uncertainty that had been holding the SP back until now.
If we can then prove that we have a commercial find there will be a significant re-rating as the insto's will then be allowed to play. My best guess on success case will be a test and break of 16c ($2.40 after 1 for 15 consolidation - coming soon imo - don't be scared)