Hi Mike there was even less known about SNE before the last CR ,...

Hi Mike there was even less known about SNE before the last CR , they are made largely on judgement by Management. If for example management considered the risks associated with a poor result for Bellatrix put the Company at risk of having to raise at an even lower price, then raising after the results of SNE 3 is an option they would consider..the exchange rate was one of the reasons around the timing of the last CR...situations continually change...

Talk of a CR is not scaremongering it's dealing with the reality for all small Companies without income and constant cash requirements ...hopefully it is held off untill the end of the 3 well program but hope is not something you want to rely on...the only certainty is that if we are going to continue we will need more cash at some stage...

Cheers Whisky