private placement, page-5

Knew this was coming so not surprised and it is not hugely dilutional so no problem.

As for its timing. It is just "prudent" management. It doesn't matter how confident they are with the wells, there is always a chance something might not go to plan and then they might not able to raise cash because the incentive is gone. Better to place now with the carrot of good results and have the sureity regardless the outcome.