spp, page-2

It's brilliant. As at the last AR there were 3700 shareholders of which 3300 owned less than 9% of the company. Now the get a letter saying we have found lots of good stuff - why not get your holding up to something decent and come along for the ride. At least a thousand will take it up leading to scale back to $2500 each and leaving them with a position that most will still not bother selling. I reckon less than 5m of these shares will hit the market in the next 3 months and the company gets points with the little guy for thinking of him.

They only want some cash to pay for the extra drilling (I assume if the stake goes up to 37.5% so does their share of the cost!) and like Salty says after that the gas will self fund (with a little debt against a proven resouce) and that will be paid either by gas flows or option excercises and on to the next discovery/development.

The reason they announce it now and not later is it will take about a month to process and they will want the cash after this drill program.

I was having some light level discussions about taking a private placement of some of this if the came to the market but this is much smarter.

Oh yeah - and it means if insto's want some - they have to COME AND GET THEM ;)