Won't the number of options on issue cap the share price at $1.00 for the next year? With the extra 20m options issued to FPO holders, the number of 2008 options becomes approx 90m if all taken up - so from 42% of FPO's to a hefty 54%.
The only scenario in which traders won't sell down any time the price approaches $1 would seem to be if the drill bit strikes enough oil to push the price through the barrier on massive momentum. But in that case, the company would be better off raising the capital needed for development AFTER the oil find.
RRS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
