Just out this afternoon has come the copy of official Rights...

Just out this afternoon has come the copy of official Rights offer document.

Probably of interest to many shareholders is a bit more comment on the list of priorities for the money raised.

"The Company intends to apply the funds raised from the Offer, after any Offer costs, in the following priority:
(a)
funding of further San Joaquin Joint Venture exploration activities, prospect and permit development and acreage rentals;
(b)
funding of Bullseye development well obligations;
(c)
review and acquisition of new oil and gas assets or projects;
(d)
partial repayment of working capital loans; and
(e)
general working capital.
The Board reserves the right to vary the priority of expenditures dependent on circumstances and other opportunities.............."


Aha !
So as hoped there is some intention to push ahead with some SJJV operations ......hmmmmm does that actually mean drilling a well or two ?????

And there is an indication that some plans must be firming up for the development drilling at Bullseye. Okay so that is also promising. Maybe the reserves estimate figures there could be interesting reading when they are announced.

And also there is again this intriguing prospect of getting involved with some other oil and gas "assets or projects"

Sounds good! Let's do it !!!!!! Let's get this show on the road