Lots of speculation regarding who is or isn't the underwriter but frankly i think its a bit irrelevant. Any further detail of Clear Creek gas production (ie. more detail than "early success") could easily have the sp north of 15c. Waiting to buy after the rights issue, and after more detail is released on Clear Creek, seems a bit dumb when you can get them now at 12c with the right to buy more at 15c if the sp gets a move along. 1/“We’ve had early success with this strategy (ie. bringing wells back into production) and expect that this will translate into cash flow in the coming months.” 2/"Completion of the rights issue will .... allow us to achieve a sustainable and profitable production profile from as many as 16 wells over the next 12 months." 3/"Further information on the rights issue, which will offer 1 new share for every 2 held at $0.15 cents, will be provided to shareholders over the coming weeks"
MAE Price at posting:
12.0¢ Sentiment: ST Buy Disclosure: Held
