tanzania to be the gas hub of east africa, page-12

Well I think they can easily raise another $1.2m at least at 4% under the 15% equity issue without shareholder approval. (or is it 10% without shareholder approval?).

Are they also allowed to issue the shortfall from the fundraising to increase that further?

There could be another $2m coming in.

To be honest I would have rather they finished UK, and if that was successful, then our income would be alot higher. Surely WA if it hits something good, cannot be commercialised in 2mths?

Just have to wonder where the cash is going to come from to fund the drilling? Maybe a farm down of 10%, but who knows. Just hope we keep our fingers in the Tanzi pie! There will be enough for everyone.