firstly i assume that the raise will be using the adr SNDE . I...

firstly i assume that the raise will be using the adr SNDE . I would not be surprised if they raise $50-$75 million.
Acquiring more production in the EF and complete the sale of OK! Use some of the money to reduce long term debt .
I believe they will continue to use Vitoil for another round. We may also see a reverse split for sea.ax and sdcjf (pinks).

Another scenario is we merge and raise the same $50-$75 million that will be placed with hungry institutions for
under exposed in the oil patch. Not sure Eric is ready to walk away from the business, but you never know!

Could of course be something else! Regardless, what you think about Eric~ he guided this cmpy for many years
and grew it rapidly and bought acreage before the herd figured it out. It was not his fault that the oil market went sour.
OPEC's foolish games and the horrible deal with Obama and Iran that allowed them to flood the market with additional
2 million barrels per day. rem Jan 2016 when the deal was done wti $26. glad we got rid of America's cancer.

The only negative is that the Au shares would not give the adr a break! The ADR could have easily been $11-$12 and the funding would have been less, but the AU investor's does not understand the opinion of leverage in the US vs how the AU investor feels about.

Finally, we are in for a change and hopefully for the better for the long term and we get a balance sheet that indicate
health.